First of Long Island (NASDAQ:FLIC) Upgraded at Keefe, Bruyette & Woods

First of Long Island (NASDAQ:FLIC - Get Free Report) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a $16.56 price target on the bank's stock, up from their prior price target of $16.04. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 50.55% from the stock's previous close.

Separately, StockNews.com began coverage on shares of First of Long Island in a report on Friday, March 28th. They issued a "hold" rating on the stock.

First of Long Island Stock Performance

Shares of FLIC traded down $0.12 during trading hours on Tuesday, reaching $11.00. 89,602 shares of the company traded hands, compared to its average volume of 108,368. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average price of $12.70 and a 200-day moving average price of $12.90. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03. The stock has a market capitalization of $248.99 million, a P/E ratio of 14.67 and a beta of 0.75.

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

Hedge Funds Weigh In On First of Long Island

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in First of Long Island by 50.5% during the fourth quarter. Wellington Management Group LLP now owns 632,365 shares of the bank's stock valued at $7,386,000 after acquiring an additional 212,216 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of First of Long Island during the 4th quarter valued at approximately $126,000. Sherbrooke Park Advisers LLC acquired a new position in shares of First of Long Island in the 4th quarter valued at $136,000. Millennium Management LLC boosted its holdings in 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 in the last quarter. Finally, Focus Partners Wealth increased its holdings in First of Long Island by 17.1% in the fourth quarter. Focus Partners Wealth now owns 34,288 shares of the bank's stock valued at $400,000 after buying an additional 5,008 shares in the last quarter. Institutional investors and hedge funds own 48.33% of the company's stock.

About First of Long Island

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.