Stock analysts at StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC - Get Free Report) in a report issued on Thursday. The brokerage set a "hold" rating on the bank's stock.
First of Long Island Stock Down 1.1 %
Shares of FLIC traded down $0.13 during midday trading on Thursday, reaching $12.07. 339,512 shares of the company were exchanged, compared to its average volume of 107,174. 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 1-year low of $9.30 and a 1-year high of $15.03. The company has a market cap of $273.20 million, a price-to-earnings ratio of 16.09 and a beta of 0.75. The stock has a 50-day moving average price of $12.62 and a 200-day moving average price of $12.92.
First of Long Island (NASDAQ:FLIC - Get Free Report) last released 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%.
Hedge Funds Weigh In On First of Long Island
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in shares of First of Long Island by 5.4% in the third quarter. Empowered Funds LLC now owns 58,048 shares of the bank's stock worth $747,000 after acquiring an additional 2,948 shares in the last quarter. Quest Partners LLC purchased a new stake in First of Long Island during the 3rd quarter worth approximately $212,000. FMR LLC raised its position in shares of First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank's stock valued at $45,000 after purchasing an additional 1,950 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of First of Long Island by 8.9% during the 3rd quarter. Stifel Financial Corp now owns 57,933 shares of the bank's stock valued at $746,000 after buying an additional 4,716 shares during the last quarter. Finally, State Street Corp grew its position in shares of First of Long Island by 3.4% during the third quarter. State Street Corp now owns 505,758 shares of the bank's stock worth $6,509,000 after buying an additional 16,456 shares in the last quarter. 48.33% of the stock is owned by hedge funds and other institutional investors.
About First of Long Island
(
Get Free Report)
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.
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