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

by · The Cerbat Gem

StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC – Get Free Report) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the bank’s stock.

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

Read Our Latest Stock Analysis on First of Long Island

First of Long Island Stock Performance

Shares of FLIC stock opened at $12.91 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day moving average of $12.56 and a 200-day moving average of $11.18. First of Long Island has a one year low of $9.30 and a one year high of $13.95. The company has a market cap of $290.68 million, a P/E ratio of 11.95 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC – Get Free Report) last posted its earnings results on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $45.41 million for the quarter, compared to analysts’ expectations of $20.90 million. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. During the same quarter last year, the firm earned $0.31 EPS.

Insider Transactions at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the firm’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 completion of the sale, the director now directly owns 3,453 shares of the company’s stock, valued at $43,853.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First of Long Island

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of First of Long Island in the third quarter worth about $118,000. AQR Capital Management LLC boosted its holdings in First of Long Island by 272.6% in the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after buying an additional 321,032 shares during the period. Squarepoint Ops LLC purchased a new position in First of Long Island in the 2nd quarter valued at approximately $230,000. Marshall Wace LLP bought a new stake in First of Long Island during the 2nd quarter valued at $209,000. Finally, Evoke Wealth LLC purchased a new stake in shares of First of Long Island during the second quarter worth $103,000. Hedge funds and other institutional investors own 48.33% of the company’s stock.

First of Long Island Company Profile

(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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