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

by · The Markets Daily

Analysts at StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC – Get Free Report) in a research note issued on Monday. The brokerage set a “hold” rating on the bank’s stock.

First of Long Island Stock Performance

FLIC stock opened at $11.68 on Monday. The stock’s 50 day simple moving average is $13.44 and its 200 day simple moving average is $12.55. 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 12-month low of $9.30 and a 12-month high of $15.03. The stock has a market capitalization of $263.31 million, a PE ratio of 13.27 and a beta of 0.71.

Institutional Investors Weigh In On First of Long Island

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after buying an additional 1,950 shares in the last quarter. Evoke Wealth LLC purchased a new stake in First of Long Island in the 2nd quarter worth approximately $103,000. SG Americas Securities LLC bought a new stake in First of Long Island during the 3rd quarter worth approximately $118,000. CWM LLC raised its stake in First of Long Island by 87.8% during the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after acquiring an additional 6,856 shares during the period. Finally, Marshall Wace LLP purchased a new position in First of Long Island during the second quarter valued at approximately $209,000. 48.33% of the stock is currently 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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