First of Long Island Corp (NASDAQ:FLIC) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.
Zacks has also given First of Long Island an industry rank of 26 out of 265 based on the ratings given to its competitors.
A number of analysts have recently commented on the company. Zacks Investment Research raised First of Long Island from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Thursday, September 28th. ValuEngine downgraded First of Long Island from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub downgraded First of Long Island from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Sandler O’Neill set a $33.00 price objective on First of Long Island and gave the stock a “buy” rating in a research note on Wednesday, January 3rd.
In other news, Director Walter C. Teagle III sold 5,630 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $29.75, for a total transaction of $167,492.50. Following the sale, the director now directly owns 129,810 shares of the company’s stock, valued at $3,861,847.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Milbrey Rennie Taylor sold 2,079 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $30.11, for a total value of $62,598.69. Following the sale, the director now directly owns 20,001 shares in the company, valued at $602,230.11. The disclosure for this sale can be found here. Insiders have sold 22,434 shares of company stock worth $661,149 over the last ninety days. 4.83% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in FLIC. Franklin Resources Inc. raised its position in shares of First of Long Island by 73.1% during the second quarter. Franklin Resources Inc. now owns 1,617,800 shares of the bank’s stock worth $46,269,000 after purchasing an additional 683,135 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of First of Long Island during the third quarter worth $6,924,000. Goldman Sachs Group Inc. grew its holdings in shares of First of Long Island by 17.7% during the second quarter. Goldman Sachs Group Inc. now owns 741,182 shares of the bank’s stock valued at $21,198,000 after buying an additional 111,227 shares in the last quarter. Boston Partners grew its holdings in shares of First of Long Island by 74.3% during the third quarter. Boston Partners now owns 206,701 shares of the bank’s stock valued at $6,294,000 after buying an additional 88,100 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of First of Long Island by 118.3% during the third quarter. Russell Investments Group Ltd. now owns 162,550 shares of the bank’s stock valued at $4,949,000 after buying an additional 88,100 shares in the last quarter. 53.63% of the stock is currently owned by institutional investors.
First of Long Island (FLIC) traded up $0.10 on Friday, hitting $28.10. The stock had a trading volume of 69,326 shares, compared to its average volume of 57,667. First of Long Island has a 12 month low of $25.60 and a 12 month high of $33.50. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.24. The company has a market cap of $692.14, a P/E ratio of 19.51 and a beta of 0.77.
First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Monday, October 30th. The bank reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. First of Long Island had a return on equity of 10.81% and a net margin of 28.36%. The company had revenue of $26.87 million for the quarter, compared to the consensus estimate of $27.05 million. research analysts expect that First of Long Island will post 1.5 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 28th. First of Long Island’s dividend payout ratio (DPR) is presently 41.67%.
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About First of Long Island
The First of Long Island Corporation is a one-bank holding company. The Company provides financial services through its subsidiary, The First National Bank of Long Island (the Bank). Its services include account reconciliation services, bank by mail, personal money orders, bill payment, remote deposit, cash management services, safe deposit boxes, collection services securities transactions, controlled disbursement accounts, signature guarantee services, drive-through banking, merchant credit card services, and investment management and trust services.
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