First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods upgraded shares of First of Long Island from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $16.04 to $16.56 in a research report on Tuesday, April 1st.

First of Long Island Trading Down 1.0 %

NASDAQ:FLIC opened at $11.52 on Tuesday. The stock has a market cap of $260.76 million, a price-to-earnings ratio of 15.36 and a beta of 0.69. The company’s 50 day moving average price is $11.82 and its 200-day moving average price is $12.64. First of Long Island has a 52 week low of $9.30 and a 52 week high of $15.03. 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 (NASDAQ:FLIC) last issued its quarterly earnings data on Wednesday, April 30th. The bank reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The company had revenue of $21.54 million for the quarter, compared to the consensus estimate of $21.89 million. First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

Institutional Investors Weigh In On First of Long Island

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in First of Long Island by 2,711.4% in the 1st quarter. GAMMA Investing LLC now owns 2,952 shares of the bank’s stock worth $36,000 after purchasing an additional 2,847 shares during the period. Janney Montgomery Scott LLC bought a new position in First of Long Island in the 4th quarter worth $126,000. Wealth Enhancement Advisory Services LLC bought a new position in First of Long Island in the 4th quarter worth $126,000. Algert Global LLC bought a new position in First of Long Island in the 4th quarter worth $134,000. Finally, Sherbrooke Park Advisers LLC bought a new position in First of Long Island in the 4th quarter worth $136,000. 48.33% of the stock is currently owned by hedge funds and other 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.