First of Long Island (NASDAQ:FLIC) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods increased their price objective on 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

First of Long Island stock opened at $12.78 on Tuesday. The business has a 50 day simple moving average of $12.25 and a 200-day simple moving average of $10.99. The stock has a market capitalization of $287.75 million, a PE ratio of 11.83 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97. First of Long Island has a 12 month low of $9.30 and a 12 month high of $13.95.

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

Insider Buying and Selling at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the sale, the director now owns 3,453 shares of the company’s stock, valued at $43,853.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.33% of the stock is owned by corporate insiders.

Institutional Trading of First of Long Island

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of First of Long Island by 272.6% during the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after acquiring an additional 321,032 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of First of Long Island during the second quarter valued at $230,000. Marshall Wace LLP acquired a new stake in shares of First of Long Island during the second quarter valued at $209,000. Evoke Wealth LLC acquired a new stake in shares of First of Long Island during the second quarter valued at $103,000. Finally, Sei Investments Co. boosted its stake in shares of First of Long Island by 13.0% during the second quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock valued at $217,000 after acquiring an additional 2,500 shares during 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.