First of Long Island (NASDAQ:FLIC) Research Coverage Started at StockNews.com

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

Separately, Keefe, Bruyette & Woods upped their price target on 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 Stock Performance

Shares of First of Long Island stock opened at $12.78 on Tuesday. First of Long Island has a one year low of $9.30 and a one year high of $13.95. The company has a market cap of $287.75 million, a PE ratio of 11.83 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day simple moving average of $12.25 and a 200-day simple moving average of $10.99.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $45.41 million during the quarter, compared to the consensus estimate of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same period in the previous year, the company posted $0.31 earnings per share.

Insider Activity at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the transaction, the director now directly owns 3,453 shares of the company’s stock, valued at $43,853.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLIC. Trexquant Investment LP lifted its stake in First of Long Island by 25.0% in the fourth quarter. Trexquant Investment LP now owns 46,329 shares of the bank’s stock valued at $613,000 after buying an additional 9,262 shares during the last quarter. rhino investment partners Inc purchased a new stake in First of Long Island in the fourth quarter valued at approximately $3,522,000. Quadrature Capital Ltd purchased a new stake in shares of First of Long Island during the fourth quarter worth approximately $144,000. Webster Bank N. A. purchased a new stake in shares of First of Long Island during the first quarter worth approximately $28,000. Finally, BNP Paribas Financial Markets raised its stake in shares of First of Long Island by 57.3% during the first quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock worth $241,000 after purchasing an additional 7,927 shares during the last quarter. Hedge funds and other 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.