First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC - Get Free Report) in a research report issued on Sunday. The firm set a "hold" rating on the bank's stock.

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

First of Long Island Stock Down 2.4 %

Shares of FLIC stock traded down $0.31 during trading hours on Friday, reaching $12.39. 62,304 shares of the company's stock were exchanged, compared to its average volume of 111,588. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $13.95. The stock's 50 day moving average is $12.83 and its 200-day moving average is $11.44. 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 company has a market cap of $278.97 million, a price-to-earnings ratio of 11.47 and a beta of 0.69.

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

Insider Buying and Selling at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the sale, the director now owns 3,453 shares of the company's stock, valued at $43,853.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.33% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in First of Long Island by 57.3% during the first quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank's stock valued at $241,000 after acquiring an additional 7,927 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of First of Long Island in the first quarter worth about $132,000. John G Ullman & Associates Inc. purchased a new stake in shares of First of Long Island during the 1st quarter worth about $226,000. Empowered Funds LLC grew its position in shares of First of Long Island by 8.1% during the 1st quarter. Empowered Funds LLC now owns 51,140 shares of the bank's stock valued at $567,000 after acquiring an additional 3,850 shares during the period. Finally, Anchor Capital Advisors LLC increased its stake in shares of First of Long Island by 15.3% in the 1st quarter. Anchor Capital Advisors LLC now owns 155,024 shares of the bank's stock valued at $1,719,000 after purchasing an additional 20,569 shares in the last quarter. Hedge funds and other institutional investors 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.