First of Long Island Co. (NASDAQ:FLIC) has received an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also given First of Long Island an industry rank of 111 out of 265 based on the ratings given to related companies.
Several equities research analysts recently issued reports on FLIC shares. Zacks Investment Research cut shares of First of Long Island from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Sandler O’Neill set a $33.00 target price on shares of First of Long Island and gave the stock a “buy” rating in a report on Wednesday, January 3rd. BidaskClub cut shares of First of Long Island from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $31.00 target price on shares of First of Long Island in a report on Tuesday, February 27th. Finally, ValuEngine cut shares of First of Long Island from a “buy” rating to a “hold” rating in a report on Monday, April 2nd.
NASDAQ:FLIC opened at $28.05 on Tuesday. First of Long Island has a 52 week low of $26.05 and a 52 week high of $33.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $696.76, a PE ratio of 18.95 and a beta of 0.71.
First of Long Island (NASDAQ:FLIC) last issued its earnings results on Tuesday, January 30th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.03). First of Long Island had a return on equity of 10.82% and a net margin of 28.02%. The company had revenue of $24.59 million during the quarter, compared to analysts’ expectations of $27.66 million. equities analysts predict that First of Long Island will post 1.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 4th. Investors of record on Friday, March 16th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.14%. The ex-dividend date was Thursday, March 15th. First of Long Island’s dividend payout ratio is currently 40.54%.
In other First of Long Island news, insider Michael N. Vittorio sold 3,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $27.53, for a total value of $82,590.00. Following the transaction, the insider now directly owns 106,135 shares in the company, valued at $2,921,896.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Milbrey Rennie Taylor sold 2,236 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $27.90, for a total transaction of $62,384.40. Following the completion of the transaction, the director now owns 21,000 shares in the company, valued at $585,900. The disclosure for this sale can be found here. Insiders sold 9,036 shares of company stock worth $253,608 in the last 90 days. 4.64% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank raised its position in First of Long Island by 39.7% in the fourth quarter. Comerica Bank now owns 37,923 shares of the bank’s stock worth $1,079,000 after acquiring an additional 10,784 shares during the period. Schwab Charles Investment Management Inc. raised its position in First of Long Island by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 122,899 shares of the bank’s stock worth $3,503,000 after acquiring an additional 4,626 shares during the period. BlackRock Inc. raised its position in shares of First of Long Island by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,682,103 shares of the bank’s stock valued at $47,941,000 after purchasing an additional 27,262 shares during the period. Swiss National Bank raised its position in shares of First of Long Island by 7.5% during the 4th quarter. Swiss National Bank now owns 37,450 shares of the bank’s stock valued at $1,067,000 after purchasing an additional 2,600 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of First of Long Island during the 4th quarter valued at $214,000. Institutional investors and hedge funds own 53.46% of the company’s stock.
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About First of Long Island
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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