First of Long Island Corp (NASDAQ:FLIC) has earned a consensus broker rating score of 3.00 (Hold) from the two brokers 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 184 out of 256 based on the ratings given to related companies.
Several research firms have weighed in on FLIC. BidaskClub lowered First of Long Island from a “hold” rating to a “sell” rating in a research report on Saturday, June 15th. Zacks Investment Research lowered First of Long Island from a “hold” rating to a “sell” rating in a research report on Friday. Boenning Scattergood reaffirmed a “hold” rating on shares of First of Long Island in a research report on Thursday, May 2nd. Finally, ValuEngine lowered First of Long Island from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th.
NASDAQ:FLIC opened at $21.74 on Monday. The firm has a market cap of $541.33 million, a price-to-earnings ratio of 13.34 and a beta of 0.61. First of Long Island has a twelve month low of $17.53 and a twelve month high of $23.65. The business’s 50 day moving average is $21.35. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.95 and a quick ratio of 0.95.
First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings results on Monday, July 29th. The bank reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $27.81 million. First of Long Island had a return on equity of 10.84% and a net margin of 28.68%. As a group, equities research analysts forecast that First of Long Island will post 1.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Friday, July 12th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, July 11th. First of Long Island’s payout ratio is presently 41.72%.
In related news, CEO Michael N. Vittorio sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $22.60, for a total transaction of $67,800.00. Following the transaction, the chief executive officer now directly owns 112,679 shares of the company’s stock, valued at approximately $2,546,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.93% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings in shares of First of Long Island by 20.4% during the 4th quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock worth $97,000 after acquiring an additional 817 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of First of Long Island by 425.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,137 shares of the bank’s stock worth $113,000 after acquiring an additional 4,159 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of First of Long Island during the 1st quarter worth approximately $134,000. Advisor Group Inc. increased its holdings in shares of First of Long Island by 659.2% during the 4th quarter. Advisor Group Inc. now owns 7,038 shares of the bank’s stock worth $141,000 after acquiring an additional 6,111 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its holdings in shares of First of Long Island by 344.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,853 shares of the bank’s stock worth $157,000 after acquiring an additional 6,085 shares during the last quarter. 54.61% of the stock is currently owned by institutional investors and hedge funds.
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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