Shares of The First of Long Island Co. (NASDAQ:FLIC – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.07 and traded as high as $12.20. First of Long Island shares last traded at $11.88, with a volume of 314,791 shares traded.
Analyst Upgrades and Downgrades
FLIC has been the topic of several research analyst reports. Keefe, Bruyette & Woods upgraded shares of First of Long Island from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $16.04 to $16.56 in a research report on Tuesday, April 1st. Wall Street Zen initiated coverage on shares of First of Long Island in a research report on Wednesday, May 7th. They issued a “hold” rating on the stock.
Get Our Latest Analysis on FLIC
First of Long Island Price Performance
First of Long Island (NASDAQ:FLIC – Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The bank reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The business had revenue of $21.54 million during the quarter, compared to the consensus estimate of $21.89 million. First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.
Institutional Investors Weigh In On First of Long Island
A number of hedge funds have recently made changes to their positions in FLIC. GAMMA Investing LLC grew its holdings in shares of First of Long Island by 2,711.4% in the first quarter. GAMMA Investing LLC now owns 2,952 shares of the bank’s stock worth $36,000 after purchasing an additional 2,847 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of First of Long Island in the fourth quarter worth approximately $126,000. Algert Global LLC bought a new position in shares of First of Long Island in the fourth quarter worth approximately $134,000. Sherbrooke Park Advisers LLC bought a new position in shares of First of Long Island in the fourth quarter worth approximately $136,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of First of Long Island by 15.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,455 shares of the bank’s stock worth $154,000 after purchasing an additional 1,634 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors.
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.
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