First of Long Island (NASDAQ:FLIC) Now Covered by Analysts at StockNews.com

Stock 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 Saturday. The firm set a "hold" rating on the bank's stock.

Separately, Keefe, Bruyette & Woods increased their price objective on shares of First of Long Island from $11.00 to $13.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th.

First of Long Island Price Performance

NASDAQ FLIC opened at $13.42 on Friday. The firm's fifty day simple moving average is $12.75 and its two-hundred day simple moving average is $11.35. First of Long Island has a 12-month low of $9.30 and a 12-month high of $13.95. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $302.16 million, a P/E ratio of 12.43 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. The business had revenue of $45.41 million during the quarter, compared to analysts' expectations of $20.90 million. During the same quarter in the prior year, the company posted $0.31 EPS.

Insiders Place Their Bets

In related news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the sale, the director now directly owns 3,453 shares in the company, valued at $43,853.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On First of Long Island

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its position in First of Long Island by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank's stock worth $3,522,000 after purchasing an additional 51,792 shares during the last quarter. ProShare Advisors LLC grew its position in First of Long Island by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank's stock worth $7,620,000 after purchasing an additional 51,872 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in First of Long Island by 32.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank's stock worth $161,000 after purchasing an additional 3,570 shares during the last quarter. AQR Capital Management LLC grew its position in First of Long Island by 272.6% during the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank's stock worth $4,397,000 after purchasing an additional 321,032 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in First of Long Island by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank's stock worth $12,689,000 after purchasing an additional 8,109 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.