StockNews.com Initiates Coverage on First of Long Island (NASDAQ:FLIC)

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

First of Long Island Stock Down 1.5 %

Shares of NASDAQ:FLIC opened at $12.97 on Tuesday. The stock has a market capitalization of $292.42 million, a price-to-earnings ratio of 17.29 and a beta of 0.75. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. The company’s fifty day moving average is $12.50 and its two-hundred day moving average is $12.96. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data 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 Trading of First of Long Island

A number of large investors have recently modified their holdings of the company. Sherbrooke Park Advisers LLC acquired a new stake in shares of First of Long Island in the 4th quarter worth about $136,000. Millennium Management LLC increased its holdings in shares of First of Long Island by 79.9% in the 4th quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock worth $1,809,000 after acquiring an additional 68,807 shares during the period. Focus Partners Wealth increased its stake in First of Long Island by 17.1% during the 4th quarter. Focus Partners Wealth now owns 34,288 shares of the bank’s stock valued at $400,000 after buying an additional 5,008 shares during the period. Deutsche Bank AG increased its stake in First of Long Island by 411.0% during the 4th quarter. Deutsche Bank AG now owns 23,491 shares of the bank’s stock valued at $274,000 after buying an additional 18,894 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in First of Long Island during the 4th quarter valued at about $260,000. 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.