Michael N. Vittorio Sells 3,000 Shares of First of Long Island Corp (FLIC) Stock

First of Long Island Corp (NASDAQ:FLIC) insider Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $20.51, for a total value of $61,530.00. Following the completion of the sale, the insider now owns 100,135 shares of the company’s stock, valued at $2,053,768.85. The transaction was disclosed in a filing with the SEC, which is available through this link.

NASDAQ:FLIC opened at $20.93 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $532.06 million, a PE ratio of 13.25 and a beta of 0.65. First of Long Island Corp has a one year low of $19.09 and a one year high of $31.52.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Tuesday, October 30th. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.17. The company had revenue of $23.07 million during the quarter, compared to the consensus estimate of $28.29 million. First of Long Island had a net margin of 28.61% and a return on equity of 11.10%. Sell-side analysts expect that First of Long Island Corp will post 1.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Wednesday, October 10th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $0.68 annualized dividend and a yield of 3.25%. This is an increase from First of Long Island’s previous quarterly dividend of $0.15. First of Long Island’s dividend payout ratio is currently 45.95%.

Several research firms have recently commented on FLIC. Zacks Investment Research upgraded First of Long Island from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research note on Thursday. BidaskClub upgraded First of Long Island from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine lowered First of Long Island from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $27.33.

Institutional investors have recently modified their holdings of the stock. Swiss National Bank boosted its holdings in First of Long Island by 14.2% in the 2nd quarter. Swiss National Bank now owns 42,750 shares of the bank’s stock worth $1,062,000 after buying an additional 5,300 shares during the period. First Trust Advisors LP boosted its holdings in First of Long Island by 24.4% in the 2nd quarter. First Trust Advisors LP now owns 35,828 shares of the bank’s stock worth $890,000 after buying an additional 7,023 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in First of Long Island by 6.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 478,586 shares of the bank’s stock worth $11,893,000 after buying an additional 27,751 shares during the period. Dimensional Fund Advisors LP boosted its holdings in First of Long Island by 20.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 601,227 shares of the bank’s stock worth $14,941,000 after buying an additional 102,257 shares during the period. Finally, Maltese Capital Management LLC bought a new position in First of Long Island in the 2nd quarter worth $4,664,000. 56.77% of the stock is owned by institutional investors.

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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Insider Buying and Selling by Quarter for First of Long Island (NASDAQ:FLIC)

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