Shares of First of Long Island Corp (NASDAQ:FLIC) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Zacks has also assigned First of Long Island an industry rank of 167 out of 256 based on the ratings given to related companies.
Several analysts have issued reports on FLIC shares. BidaskClub raised shares of First of Long Island from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Zacks Investment Research raised shares of First of Long Island from a “strong sell” rating to a “hold” rating in a research report on Monday, October 1st. Finally, ValuEngine raised shares of First of Long Island from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 1st.
In related news, insider Donald L. Manfredonia sold 3,772 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $21.08, for a total value of $79,513.76. Following the transaction, the insider now directly owns 112,528 shares in the company, valued at $2,372,090.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $20.51, for a total transaction of $61,530.00. Following the completion of the transaction, the insider now owns 100,135 shares in the company, valued at $2,053,768.85. The disclosure for this sale can be found here. Corporate insiders own 4.64% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FLIC. First Trust Advisors LP lifted its position in First of Long Island by 24.4% during the second quarter. First Trust Advisors LP now owns 35,828 shares of the bank’s stock worth $890,000 after purchasing an additional 7,023 shares during the period. Bank of New York Mellon Corp lifted its position in First of Long Island by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 135,678 shares of the bank’s stock worth $3,371,000 after purchasing an additional 3,735 shares during the period. SG Americas Securities LLC bought a new stake in First of Long Island during the second quarter worth about $106,000. Russell Investments Group Ltd. lifted its position in First of Long Island by 4.5% during the second quarter. Russell Investments Group Ltd. now owns 174,150 shares of the bank’s stock worth $4,327,000 after purchasing an additional 7,500 shares during the period. Finally, Swiss National Bank lifted its position in First of Long Island by 14.2% during the second quarter. Swiss National Bank now owns 42,750 shares of the bank’s stock worth $1,062,000 after purchasing an additional 5,300 shares during the period. Institutional investors and hedge funds own 55.09% of the company’s stock.
Shares of NASDAQ FLIC opened at $20.69 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The company has a market cap of $538.54 million, a P/E ratio of 13.98 and a beta of 0.67. First of Long Island has a 52-week low of $17.53 and a 52-week high of $29.90.
First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings data on Tuesday, October 30th. The bank reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. The business had revenue of $23.07 million for the quarter, compared to analyst estimates of $28.29 million. First of Long Island had a net margin of 28.61% and a return on equity of 10.98%. As a group, equities research analysts predict that First of Long Island will post 1.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Thursday, January 3rd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, January 2nd. This represents a $0.68 annualized dividend and a dividend yield of 3.29%. First of Long Island’s dividend payout ratio is currently 45.95%.
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 privately owned businesses, professionals, consumers, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as personal and non-personal money market and savings products.
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