StockNews.com Begins Coverage on First of Long Island (NASDAQ:FLIC)

Stock analysts at StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the bank’s stock.

First of Long Island Stock Performance

NASDAQ FLIC opened at $11.82 on Thursday. The company has a market capitalization of $266.42 million, a P/E ratio of 13.43 and a beta of 0.74. The company has a fifty day moving average of $12.93 and a 200-day moving average of $12.73. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98.

Hedge Funds Weigh In On First of Long Island

A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in First of Long Island by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock worth $6,079,000 after purchasing an additional 10,400 shares during the period. State Street Corp raised its position in First of Long Island by 3.4% in the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after purchasing an additional 16,456 shares during the period. Geode Capital Management LLC raised its position in First of Long Island by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock worth $6,447,000 after purchasing an additional 14,736 shares during the period. AQR Capital Management LLC raised its position in First of Long Island by 272.6% in the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after purchasing an additional 321,032 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of First of Long Island in the third quarter valued at about $5,407,000. Hedge funds and other institutional investors own 48.33% of the company’s stock.

First of Long Island Company Profile

The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to small and medium-sized businesses, professionals, consumers, municipalities, and other organizations. The company offers business and small business checking, personal checking, negotiable order of withdrawal, interest on lawyer, escrow service, rent security, personal and nonpersonal money market, savings, time deposit, and individual retirement accounts.