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

Equities researchers at StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC - Get Free Report) in a research note issued on Monday. The brokerage set a "hold" rating on the bank's stock.

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

First of Long Island Stock Up 1.5 %

NASDAQ:FLIC traded up $0.17 during mid-day trading on Monday, reaching $11.57. The stock had a trading volume of 43,248 shares, compared to its average volume of 106,433. The stock has a market cap of $261.82 million, a P/E ratio of 15.39 and a beta of 0.69. The business's 50 day moving average is $12.01 and its 200 day moving average is $12.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03.

First of Long Island (NASDAQ:FLIC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ABC Arbitrage SA bought a new stake in First of Long Island during the fourth quarter valued at about $4,545,000. Wellington Management Group LLP boosted its stake in First of Long Island by 50.5% during the 4th quarter. Wellington Management Group LLP now owns 632,365 shares of the bank's stock valued at $7,386,000 after purchasing an additional 212,216 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in First of Long Island in the 4th quarter valued at approximately $1,856,000. Credit Industriel ET Commercial bought a new position in First of Long Island in the 4th quarter worth approximately $1,180,000. Finally, Millennium Management LLC lifted its holdings in shares of First of Long Island by 79.9% during the fourth quarter. Millennium Management LLC now owns 154,915 shares of the bank's stock worth $1,809,000 after buying an additional 68,807 shares during the last quarter. 48.33% of the stock is currently 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.