First of Long Island Corp (FLIC) Receives Consensus Rating of “Hold” from Brokerages

Shares of First of Long Island Corp (NASDAQ:FLIC) have been assigned an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.

Zacks has also assigned First of Long Island an industry rank of 178 out of 255 based on the ratings given to its competitors.

FLIC has been the subject of several analyst reports. BidaskClub raised First of Long Island from a “strong sell” rating to a “sell” rating in a report on Saturday, September 8th. Zacks Investment Research lowered First of Long Island from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 1st. Finally, ValuEngine lowered First of Long Island from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 31st.

In other First of Long Island news, Director John J. Desmond bought 4,350 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The shares were purchased at an average price of $22.79 per share, with a total value of $99,136.50. Following the completion of the acquisition, the director now directly owns 4,550 shares of the company’s stock, valued at approximately $103,694.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.64% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Stratos Wealth Partners LTD. acquired a new stake in First of Long Island in the first quarter valued at about $100,000. SG Americas Securities LLC purchased a new position in shares of First of Long Island during the 2nd quarter worth approximately $106,000. Engineers Gate Manager LP purchased a new stake in First of Long Island in the 2nd quarter worth approximately $222,000. Mackay Shields LLC purchased a new stake in First of Long Island in the 2nd quarter worth approximately $295,000. Finally, Aperio Group LLC grew its stake in First of Long Island by 42.0% in the 1st quarter. Aperio Group LLC now owns 11,578 shares of the bank’s stock worth $318,000 after acquiring an additional 3,425 shares during the period. 56.70% of the stock is currently owned by institutional investors.

FLIC traded up $0.05 during trading on Friday, hitting $21.55. 31,955 shares of the stock were exchanged, compared to its average volume of 66,331. The company has a market capitalization of $546.55 million, a P/E ratio of 14.56 and a beta of 0.62. First of Long Island has a 1 year low of $21.30 and a 1 year high of $33.50. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.11.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Monday, July 30th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.05). First of Long Island had a net margin of 28.08% and a return on equity of 11.05%. The company had revenue of $28.56 million during the quarter, compared to analysts’ expectations of $28.73 million. equities analysts anticipate that First of Long Island will post 1.65 earnings per share for the current year.

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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