First of Long Island (NASDAQ:FLIC) Receives New Coverage from Analysts at StockNews.com

Investment 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 Sunday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised their price objective on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

First of Long Island Price Performance

FLIC stock opened at $12.39 on Friday. The business’s 50-day moving average is $12.83 and its two-hundred day moving average is $11.43. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $279.15 million, a P/E ratio of 12.64 and a beta of 0.69. First of Long Island has a 1 year low of $9.30 and a 1 year high of $13.95.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. The firm had revenue of $45.41 million for the quarter, compared to analysts’ expectations of $20.90 million. During the same quarter last year, the company earned $0.31 earnings per share.

Insider Buying and Selling

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the sale, the director now owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLIC. EntryPoint Capital LLC purchased a new position in shares of First of Long Island during the first quarter worth approximately $42,000. CWM LLC boosted its stake in First of Long Island by 292.0% during the 2nd quarter. CWM LLC now owns 7,812 shares of the bank’s stock worth $78,000 after purchasing an additional 5,819 shares during the period. SG Americas Securities LLC purchased a new position in First of Long Island during the 3rd quarter worth $118,000. Hillsdale Investment Management Inc. acquired a new position in First of Long Island in the first quarter valued at $105,000. Finally, Evoke Wealth LLC purchased a new stake in shares of First of Long Island in the second quarter valued at about $103,000. Institutional investors and hedge funds 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.