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

Stock analysts at StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a report released on Tuesday. The firm set a “hold” rating on the bank’s stock.

First of Long Island Price Performance

Shares of FLIC stock opened at $11.51 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $259.48 million, a PE ratio of 13.08 and a beta of 0.74. The firm’s 50-day moving average is $13.34 and its two-hundred day moving average is $12.62. 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

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

First of Long Island Company Profile

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.