StockNews.com Lowers First of Long Island (NASDAQ:FLIC) to Sell

First of Long Island (NASDAQ:FLIC) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

First of Long Island Stock Down 9.0 %

Shares of First of Long Island stock traded down $0.95 during trading hours on Monday, hitting $9.55. The company had a trading volume of 211,311 shares, compared to its average volume of 160,854. First of Long Island has a twelve month low of $8.79 and a twelve month high of $14.26. The company has a market cap of $214.49 million, a P/E ratio of 8.84 and a beta of 0.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.98 and a quick ratio of 0.98. The company’s 50-day moving average is $10.72 and its two-hundred day moving average is $11.51.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The firm had revenue of $22.36 million during the quarter, compared to the consensus estimate of $23.20 million. First of Long Island had a return on equity of 6.59% and a net margin of 14.14%. Analysts anticipate that First of Long Island will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First of Long Island

Hedge funds and other institutional investors have recently made changes to their positions in the business. Webster Bank N. A. bought a new stake in shares of First of Long Island in the 1st quarter worth approximately $28,000. SG Americas Securities LLC bought a new stake in shares of First of Long Island during the 3rd quarter worth $110,000. J.W. Cole Advisors Inc. acquired a new position in shares of First of Long Island in the 4th quarter worth $134,000. Quadrature Capital Ltd acquired a new stake in shares of First of Long Island during the fourth quarter worth $144,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of First of Long Island during the third quarter valued at $161,000. 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.