First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

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

First of Long Island Stock Performance

Shares of First of Long Island stock opened at $13.78 on Friday. The stock’s fifty day simple moving average is $12.59 and its 200 day simple moving average is $12.83. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $310.60 million, a PE ratio of 18.37 and a beta of 0.75. First of Long Island has a 12 month low of $9.30 and a 12 month high of $15.03.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 EPS 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

Several institutional investors have recently added to or reduced their stakes in FLIC. State Street Corp raised its stake in shares of First of Long Island by 3.4% in the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock valued at $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 valued at $6,447,000 after buying an additional 14,736 shares during the last quarter. Wellington Management Group LLP bought a new stake in First of Long Island in the 3rd quarter valued at approximately $5,407,000. ABC Arbitrage SA acquired a new position in First of Long Island during the 4th quarter worth approximately $4,545,000. Finally, Bank of New York Mellon Corp grew its stake in shares of First of Long Island by 27.9% during the 4th quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank’s stock worth $2,399,000 after acquiring an additional 44,857 shares in the last quarter. 48.33% of the stock is owned by institutional investors.

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.