First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

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

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

First of Long Island Price Performance

First of Long Island stock opened at $12.61 on Wednesday. First of Long Island has a 52 week low of $9.30 and a 52 week high of $13.95. The business has a 50-day simple moving average of $12.54 and a 200 day simple moving average of $11.11. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. The stock has a market cap of $283.93 million, a price-to-earnings ratio of 11.68 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results 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. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. The firm had revenue of $45.41 million during the quarter, compared to analyst estimates of $20.90 million. During the same quarter in the previous year, the company posted $0.31 earnings per share.

Insiders Place Their Bets

In other news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction dated 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 owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.33% of the company’s stock.

Institutional Investors Weigh In On First of Long Island

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in shares of 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 acquiring an additional 1,231 shares during the last quarter. Sei Investments Co. lifted its stake in shares of First of Long Island by 13.0% in the 2nd 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. Webster Bank N. A. purchased a new position in First of Long Island during the 1st quarter valued at about $28,000. O Shaughnessy Asset Management LLC increased its holdings in First of Long Island by 32.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock valued at $161,000 after purchasing an additional 3,570 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in First of Long Island by 14.9% during the 2nd quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock valued at $295,000 after purchasing an additional 3,810 shares during the period. Institutional investors 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.