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

StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note issued on Friday. The brokerage set a “hold” rating on the bank’s stock.

First of Long Island Price Performance

FLIC opened at $14.21 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market cap of $320.29 million, a price-to-earnings ratio of 16.15 and a beta of 0.71. The stock has a fifty day simple moving average of $13.55 and a two-hundred day simple moving average of $12.17. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03.

Hedge Funds Weigh In On First of Long Island

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake in shares of First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after buying an additional 1,950 shares during the last quarter. CWM LLC boosted its holdings in First of Long Island by 292.0% in the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock worth $78,000 after acquiring an additional 5,819 shares in the last quarter. Evoke Wealth LLC purchased a new stake in shares of First of Long Island in the second quarter worth $103,000. SG Americas Securities LLC purchased a new stake in shares of First of Long Island in the third quarter worth $118,000. Finally, Marshall Wace LLP bought a new position in shares of First of Long Island during the second quarter valued at $209,000. 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.