First of Long Island (NASDAQ:FLIC) Now Covered by Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods raised shares of First of Long Island from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $16.04 to $16.56 in a research note on Tuesday.

First of Long Island Price Performance

Shares of FLIC opened at $11.00 on Friday. The company has a market capitalization of $248.99 million, a price-to-earnings ratio of 14.67 and a beta of 0.75. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day moving average is $12.69 and its 200-day moving average is $12.88.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 large investors have recently added to or reduced their stakes in FLIC. Anchor Capital Advisors LLC lifted its stake in shares of First of Long Island by 0.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock worth $2,058,000 after buying an additional 877 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in First of Long Island by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank’s stock worth $2,034,000 after acquiring an additional 1,271 shares during the period. FMR LLC boosted its holdings in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,950 shares during the period. SG Americas Securities LLC boosted its holdings in First of Long Island by 28.4% during the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,614 shares during the period. Finally, Empowered Funds LLC grew its position in shares of First of Long Island by 5.0% in the fourth quarter. Empowered Funds LLC now owns 60,924 shares of the bank’s stock valued at $712,000 after purchasing an additional 2,876 shares during the last quarter. Institutional investors own 48.33% of the company’s stock.

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.