First of Long Island Corp (NASDAQ:FLIC) Receives Consensus Recommendation of “Hold” from Brokerages

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First of Long Island Corp (NASDAQ:FLIC) has been given an average 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 148 out of 255 based on the ratings given to related companies.

A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. BidaskClub lowered shares of First of Long Island from a “hold” rating to a “sell” rating in a research report on Thursday, December 5th.

Shares of NASDAQ:FLIC opened at $24.41 on Wednesday. The company’s 50 day simple moving average is $23.91 and its 200 day simple moving average is $22.41. The stock has a market capitalization of $665.85 million, a price-to-earnings ratio of 14.98 and a beta of 0.63. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.95 and a quick ratio of 0.95. First of Long Island has a 1 year low of $17.53 and a 1 year high of $24.62.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Wednesday, October 30th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. First of Long Island had a net margin of 28.03% and a return on equity of 10.93%. The firm had revenue of $27.61 million for the quarter, compared to analyst estimates of $27.79 million. As a group, analysts anticipate that First of Long Island will post 1.73 EPS for the current fiscal year.

In other news, CEO Michael N. Vittorio sold 3,000 shares of First of Long Island stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $24.25, for a total transaction of $72,750.00. Following the transaction, the chief executive officer now owns 106,679 shares in the company, valued at $2,586,965.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark D. Curtis sold 5,000 shares of First of Long Island stock in a transaction on Friday, November 1st. The stock was sold at an average price of $23.55, for a total transaction of $117,750.00. Following the transaction, the executive vice president now owns 61,394 shares in the company, valued at approximately $1,445,828.70. The disclosure for this sale can be found here. Company insiders own 4.93% of the company’s stock.

Large investors have recently modified their holdings of the company. Susquehanna International Group LLP acquired a new position in shares of First of Long Island during the second quarter worth $3,285,000. Chilton Investment Co. LLC lifted its holdings in shares of First of Long Island by 15.9% during the third quarter. Chilton Investment Co. LLC now owns 129,615 shares of the bank’s stock worth $2,949,000 after purchasing an additional 17,824 shares during the period. Mackay Shields LLC lifted its holdings in shares of First of Long Island by 41.7% during the third quarter. Mackay Shields LLC now owns 59,099 shares of the bank’s stock worth $1,345,000 after purchasing an additional 17,400 shares during the period. California Public Employees Retirement System lifted its holdings in shares of First of Long Island by 42.4% during the third quarter. California Public Employees Retirement System now owns 59,140 shares of the bank’s stock worth $1,345,000 after purchasing an additional 17,595 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of First of Long Island by 50.2% during the second quarter. Acadian Asset Management LLC now owns 40,550 shares of the bank’s stock worth $815,000 after purchasing an additional 13,553 shares during the period. Institutional investors own 48.67% of the company’s stock.

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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