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

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

First of Long Island Trading Down 2.2 %

FLIC stock opened at $11.87 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. First of Long Island has a twelve month low of $9.30 and a twelve month high of $15.03. The company has a market cap of $267.60 million, a P/E ratio of 13.49 and a beta of 0.71. The business has a fifty day moving average of $13.49 and a 200-day moving average of $12.50.

Hedge Funds Weigh In On First of Long Island

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of First of Long Island by 124.0% in the 3rd 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 last quarter. Evoke Wealth LLC acquired a new position in First of Long Island during the second quarter valued at approximately $103,000. SG Americas Securities LLC bought a new stake in First of Long Island in the third quarter valued at approximately $118,000. CWM LLC raised its holdings in First of Long Island by 87.8% in the third quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after purchasing an additional 6,856 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of First of Long Island during the second quarter worth $209,000. 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.