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

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First of Long Island Corp (NASDAQ:FLIC) CEO Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $24.25, for a total transaction of $72,750.00. Following the completion of the transaction, the chief executive officer now owns 106,679 shares in the company, valued at approximately $2,586,965.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of FLIC stock opened at $24.25 on Friday. First of Long Island Corp has a 52 week low of $17.53 and a 52 week high of $24.47. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.96. The stock has a fifty day moving average of $23.07 and a 200 day moving average of $22.22. The firm has a market capitalization of $591.61 million, a price-to-earnings ratio of 14.88 and a beta of 0.61.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Wednesday, October 30th. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. First of Long Island had a return on equity of 10.92% and a net margin of 28.03%. The firm had revenue of $27.61 million during the quarter, compared to the consensus estimate of $27.79 million. Equities research analysts anticipate that First of Long Island Corp will post 1.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This is an increase from First of Long Island’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.97%. First of Long Island’s dividend payout ratio (DPR) is presently 44.17%.

Several large investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in First of Long Island in the 3rd quarter worth about $51,000. Tower Research Capital LLC TRC increased its holdings in First of Long Island by 669.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,733 shares of the bank’s stock worth $95,000 after buying an additional 4,118 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in First of Long Island by 9.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,775 shares of the bank’s stock worth $141,000 after buying an additional 592 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in First of Long Island in the 2nd quarter worth about $328,000. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new stake in First of Long Island in the 2nd quarter worth about $369,000. Hedge funds and other institutional investors own 57.20% of the company’s stock.

Several brokerages have recently issued reports on FLIC. BidaskClub upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Zacks Investment Research upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st.

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.

See Also: Risk Tolerance and Your Investment Decisions

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