First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC) in a report released on Wednesday. The brokerage set a “hold” rating on the bank’s stock.

First of Long Island Stock Performance

Shares of FLIC stock opened at $11.61 on Wednesday. The company has a market cap of $261.76 million, a price-to-earnings ratio of 15.48 and a beta of 0.75. First of Long Island has a 52 week low of $9.30 and a 52 week high of $15.03. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $12.54 and a 200-day moving average of $12.97.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

Institutional Investors Weigh In On First of Long Island

A number of hedge funds have recently made changes to their positions in FLIC. Wellington Management Group LLP bought a new stake in shares of First of Long Island during the 3rd quarter worth $5,407,000. ABC Arbitrage SA purchased a new position in First of Long Island during the 4th quarter valued at about $4,545,000. Segall Bryant & Hamill LLC bought a new stake in shares of First of Long Island during the fourth quarter valued at about $1,856,000. Credit Industriel ET Commercial bought a new stake in shares of First of Long Island during the fourth quarter valued at about $1,180,000. Finally, Millennium Management LLC increased its position in shares of First of Long Island by 79.9% in the fourth quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock worth $1,809,000 after purchasing an additional 68,807 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors.

About First of Long Island

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.