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

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

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

First of Long Island Trading Down 1.1 %

Shares of NASDAQ:FLIC traded down $0.12 on Tuesday, reaching $11.00. 89,602 shares of the company traded hands, compared to its average volume of 108,374. The stock has a market capitalization of $248.99 million, a P/E ratio of 14.67 and a beta of 0.75. The business's 50-day simple moving average is $12.69 and its 200 day simple moving average is $12.88. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. First of Long Island has a 52 week low of $9.30 and a 52 week high of $15.03.

First of Long Island (NASDAQ:FLIC - Get Free Report) last announced its quarterly earnings data 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%.

Institutional Trading of First of Long Island

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of First of Long Island by 50.5% in 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. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of First of Long Island in the 4th quarter worth about $126,000. Sherbrooke Park Advisers LLC bought a new position in shares of First of Long Island in the 4th quarter worth about $136,000. Millennium Management LLC lifted its position in First of Long Island by 79.9% during the 4th quarter. Millennium Management LLC now owns 154,915 shares of the bank's stock valued at $1,809,000 after acquiring an additional 68,807 shares during the period. Finally, Focus Partners Wealth boosted its stake in First of Long Island by 17.1% during the fourth quarter. Focus Partners Wealth now owns 34,288 shares of the bank's stock worth $400,000 after acquiring an additional 5,008 shares in the last quarter. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

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.