First of Long Island Corp (NASDAQ:FLIC) Given Consensus Rating of “Hold” by Brokerages

Shares of First of Long Island Corp (NASDAQ:FLIC) have earned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.

Zacks has also assigned First of Long Island an industry rank of 190 out of 256 based on the ratings given to its competitors.

Several equities research analysts recently weighed in on FLIC shares. ValuEngine cut First of Long Island from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Zacks Investment Research upgraded First of Long Island from a “sell” rating to a “hold” rating in a research note on Monday, September 9th. Finally, BidaskClub upgraded First of Long Island from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th.

In related news, insider Michael N. Vittorio sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $21.13, for a total transaction of $63,390.00. Following the completion of the sale, the insider now owns 109,679 shares in the company, valued at $2,317,517.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.93% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FLIC. Dimensional Fund Advisors LP lifted its stake in First of Long Island by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 732,545 shares of the bank’s stock valued at $14,614,000 after buying an additional 61,242 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in First of Long Island by 425.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,137 shares of the bank’s stock valued at $113,000 after buying an additional 4,159 shares during the last quarter. SG Americas Securities LLC purchased a new stake in First of Long Island in the first quarter valued at approximately $134,000. Systematic Financial Management LP lifted its stake in First of Long Island by 24.3% in the first quarter. Systematic Financial Management LP now owns 45,715 shares of the bank’s stock valued at $1,003,000 after buying an additional 8,930 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in First of Long Island by 1,807.9% in the first quarter. Acadian Asset Management LLC now owns 26,997 shares of the bank’s stock valued at $592,000 after buying an additional 25,582 shares during the last quarter. Institutional investors own 57.35% of the company’s stock.

Shares of FLIC traded down $0.38 during midday trading on Thursday, hitting $22.90. The company had a trading volume of 42,883 shares, compared to its average volume of 65,649. The company’s 50-day simple moving average is $22.10 and its 200-day simple moving average is $22.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $584.70 million, a P/E ratio of 14.05 and a beta of 0.63. First of Long Island has a 1 year low of $17.53 and a 1 year high of $24.45.

First of Long Island (NASDAQ:FLIC) last posted its earnings results on Monday, July 29th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The firm had revenue of $28.00 million during the quarter, compared to analysts’ expectations of $27.81 million. First of Long Island had a return on equity of 10.80% and a net margin of 28.68%. Equities analysts predict that First of Long Island will post 1.72 earnings per share for the current fiscal 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 small and medium-sized 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 money market products.

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