First of Long Island Corp (FLIC) Given Average Recommendation of “Hold” by Analysts

Shares of First of Long Island Corp (NASDAQ:FLIC) have been given an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Zacks has also given First of Long Island an industry rank of 176 out of 265 based on the ratings given to its competitors.

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Several equities analysts have issued reports on the stock. ValuEngine downgraded shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $31.00 price objective on shares of First of Long Island in a research note on Tuesday, February 27th. Finally, Sandler O’Neill set a $33.00 price objective on shares of First of Long Island and gave the company a “buy” rating in a research note on Wednesday, January 3rd.

In other news, insider Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $27.53, for a total value of $82,590.00. Following the completion of the sale, the insider now directly owns 106,135 shares of the company’s stock, valued at $2,921,896.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Milbrey Rennie Taylor sold 2,236 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $27.90, for a total transaction of $62,384.40. Following the completion of the sale, the director now directly owns 21,000 shares of the company’s stock, valued at $585,900. The disclosure for this sale can be found here. Insiders sold 9,036 shares of company stock valued at $253,608 in the last 90 days. 4.83% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of First of Long Island by 1.6% in the fourth quarter. BlackRock Inc. now owns 1,682,103 shares of the bank’s stock valued at $47,941,000 after buying an additional 27,262 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of First of Long Island by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 1,675,000 shares of the bank’s stock valued at $47,738,000 after buying an additional 38,300 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of First of Long Island by 5.3% in the second quarter. Vanguard Group Inc. now owns 974,654 shares of the bank’s stock valued at $27,874,000 after buying an additional 49,341 shares during the last quarter. Wasatch Advisors Inc. raised its holdings in shares of First of Long Island by 8.6% in the fourth quarter. Wasatch Advisors Inc. now owns 669,832 shares of the bank’s stock valued at $19,090,000 after buying an additional 53,234 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of First of Long Island by 9.3% in the third quarter. Dimensional Fund Advisors LP now owns 402,869 shares of the bank’s stock valued at $12,268,000 after buying an additional 34,381 shares during the last quarter. 53.49% of the stock is owned by institutional investors and hedge funds.

Shares of First of Long Island (NASDAQ FLIC) traded up $0.15 during mid-day trading on Friday, hitting $29.00. 18,865 shares of the company were exchanged, compared to its average volume of 43,617. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.24. First of Long Island has a 12-month low of $25.60 and a 12-month high of $33.50. The firm has a market capitalization of $713.07, a P/E ratio of 20.24 and a beta of 0.74.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Tuesday, January 30th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). First of Long Island had a net margin of 28.02% and a return on equity of 11.02%. The company had revenue of $24.59 million during the quarter, compared to analyst estimates of $27.66 million. equities analysts expect that First of Long Island will post 1.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Friday, March 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.60 annualized dividend and a yield of 2.07%. First of Long Island’s dividend payout ratio is presently 41.96%.

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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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