First of Long Island (NASDAQ:FLIC) Downgraded by StockNews.com to “Sell”

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

First of Long Island Stock Down 9.0 %

First of Long Island stock traded down $0.95 during trading hours on Monday, reaching $9.55. The stock had a trading volume of 211,311 shares, compared to its average volume of 160,854. First of Long Island has a 52 week low of $8.79 and a 52 week high of $14.26. The company has a market cap of $214.49 million, a price-to-earnings 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 business’s 50 day moving average price is $10.72 and its 200-day moving average price is $11.51.

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

Institutional Trading of First of Long Island

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in shares of First of Long Island by 107.6% during the third quarter. AQR Capital Management LLC now owns 396,994 shares of the bank’s stock valued at $4,569,000 after buying an additional 205,741 shares during the last quarter. rhino investment partners Inc acquired a new position in shares of First of Long Island in the fourth quarter valued at about $3,522,000. Anchor Capital Advisors LLC raised its stake in shares of First of Long Island by 156.3% in the fourth quarter. Anchor Capital Advisors LLC now owns 134,455 shares of the bank’s stock worth $1,780,000 after purchasing an additional 81,999 shares during the last quarter. GSA Capital Partners LLP raised its position in First of Long Island by 145.7% during the 3rd quarter. GSA Capital Partners LLP now owns 103,078 shares of the bank’s stock worth $1,186,000 after buying an additional 61,128 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in First of Long Island by 25.0% during the fourth quarter. Trexquant Investment LP now owns 46,329 shares of the bank’s stock valued at $613,000 after purchasing an additional 9,262 shares during the period. Hedge funds and other 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.