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

Analysts at StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC - Get Free Report) in a note issued to investors on Sunday. The firm set a "hold" rating on the bank's stock.

Separately, Keefe, Bruyette & Woods raised shares of First of Long Island from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $16.04 to $16.56 in a report on Tuesday, April 1st.

First of Long Island Stock Performance

First of Long Island stock traded up $0.14 during trading hours on Friday, hitting $11.01. 8,865 shares of the stock traded hands, compared to its average volume of 106,965. First of Long Island has a 1 year low of $9.30 and a 1 year high of $15.03. The stock has a market capitalization of $249.30 million, a price-to-earnings ratio of 14.69 and a beta of 0.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The firm's 50 day moving average price is $12.27 and its 200-day moving average price is $12.75.

First of Long Island (NASDAQ:FLIC - Get Free Report) last issued its 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 net margin of 9.52% and a return on equity of 4.74%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank's stock valued at $45,000 after purchasing an additional 1,950 shares in the last quarter. Stifel Financial Corp increased its holdings in First of Long Island by 8.9% in the third quarter. Stifel Financial Corp now owns 57,933 shares of the bank's stock valued at $746,000 after buying an additional 4,716 shares in the last quarter. State Street Corp raised its position 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 worth $6,509,000 after acquiring an additional 16,456 shares during the period. Wellington Management Group LLP acquired a new position in shares of First of Long Island in the third quarter worth about $5,407,000. Finally, Barclays PLC boosted its stake in shares of First of Long Island by 73.1% during the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank's stock worth $743,000 after acquiring an additional 24,399 shares in the last quarter. 48.33% of the stock is owned by institutional investors and hedge funds.

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.