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

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

First of Long Island Trading Down 1.1 %

First of Long Island stock opened at $13.64 on Friday. First of Long Island has a 52 week low of $9.30 and a 52 week high of $15.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $307.45 million, a P/E ratio of 18.19 and a beta of 0.75. The stock has a 50-day simple moving average of $12.53 and a 200 day simple moving average of $12.88.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 earnings per share (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

A number of institutional investors have recently made changes to their positions in FLIC. Dimensional Fund Advisors LP boosted its stake in shares of First of Long Island by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the bank’s stock valued at $13,485,000 after buying an additional 55,710 shares during the period. Wellington Management Group LLP boosted its stake in shares of First of Long Island by 50.5% in the fourth quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock valued at $7,386,000 after buying an additional 212,216 shares during the period. Renaissance Technologies LLC boosted its stake in shares of First of Long Island by 3.6% in the fourth quarter. Renaissance Technologies LLC now owns 616,050 shares of the bank’s stock valued at $7,195,000 after buying an additional 21,200 shares during the period. State Street Corp boosted its stake in shares of First of Long Island by 3.4% in the third quarter. State Street Corp now owns 505,758 shares of the bank’s stock valued at $6,509,000 after buying an additional 16,456 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of First of Long Island by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 504,859 shares of the bank’s stock valued at $5,898,000 after buying an additional 3,978 shares during the period. Institutional investors own 48.33% of the company’s stock.

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.