First of Long Island (NASDAQ:FLIC) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report released on Wednesday morning. The firm issued a hold rating on the bank’s stock.

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

First of Long Island Stock Performance

NASDAQ FLIC opened at $12.61 on Wednesday. The firm has a market capitalization of $283.93 million, a P/E ratio of 11.68 and a beta of 0.69. The stock has a 50-day simple moving average of $12.54 and a two-hundred day simple moving average of $11.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.97 and a current ratio of 0.97. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $13.95.

First of Long Island (NASDAQ:FLIC) last announced 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 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 earned $0.31 earnings per share.

Insider Activity at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,453 shares in the company, valued at $43,853.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.33% of the stock is owned by company insiders.

Institutional Trading of First of Long Island

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in First of Long Island by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock valued at $335,000 after buying an additional 1,231 shares in the last quarter. Sei Investments Co. increased its position 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 worth $217,000 after purchasing an additional 2,500 shares in the last quarter. Webster Bank N. A. acquired a new position in First of Long Island in the 1st quarter valued at $28,000. O Shaughnessy Asset Management LLC grew its holdings in shares of First of Long Island by 32.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock worth $161,000 after buying an additional 3,570 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of First of Long Island by 14.9% in the second quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock valued at $295,000 after buying an additional 3,810 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.