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

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

Separately, Keefe, Bruyette & Woods lifted 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 note on Monday, July 29th.

First of Long Island Stock Down 0.6 %

Shares of First of Long Island stock opened at $12.53 on Wednesday. First of Long Island has a 12-month low of $9.30 and a 12-month high of $13.95. 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 50 day moving average price of $12.53 and a two-hundred day moving average price of $11.10. The stock has a market capitalization of $282.13 million, a P/E ratio of 11.60 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC) last posted 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 business had revenue of $45.41 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.31 EPS.

Insider Activity

In related news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the transaction, the director now owns 3,453 shares of the company’s stock, valued at $43,853.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.33% of the stock is owned by company insiders.

Institutional Trading of First of Long Island

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its position 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 buying an additional 321,032 shares during the last quarter. rhino investment partners Inc acquired a new position in First of Long Island in the 4th quarter valued at approximately $3,522,000. ProShare Advisors LLC lifted its position in shares of First of Long Island by 8.2% in the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock worth $7,620,000 after acquiring an additional 51,872 shares during the period. American Century Companies Inc. grew its holdings in shares of First of Long Island by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock worth $3,522,000 after purchasing an additional 51,792 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of First of Long Island during the second quarter valued at approximately $230,000. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.