Insider Selling: The First of Long Island Corporation (FLIC) Insider Sells 2,000 Shares of Stock

The First of Long Island Corporation (NASDAQ:FLIC) insider Donald L. Manfredonia sold 2,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $28.71, for a total transaction of $57,420.00. Following the sale, the insider now owns 99,731 shares of the company’s stock, valued at $2,863,277.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of The First of Long Island Corporation (FLIC) traded up 1.45% on Monday, reaching $28.05. 46,243 shares of the company traded hands. The company has a 50-day moving average of $27.65 and a 200-day moving average of $27.48. The First of Long Island Corporation has a 1-year low of $18.60 and a 1-year high of $30.15. The stock has a market capitalization of $675.50 million, a price-to-earnings ratio of 20.44 and a beta of 0.82.

The First of Long Island Corporation (NASDAQ:FLIC) last posted its quarterly earnings results on Monday, May 1st. The bank reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $25.78 million for the quarter, compared to analyst estimates of $24.91 million. The First of Long Island Corporation had a net margin of 27.46% and a return on equity of 10.40%. Analysts anticipate that The First of Long Island Corporation will post $1.51 earnings per share for the current fiscal year.

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

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FLIC has been the subject of several analyst reports. Zacks Investment Research lowered The First of Long Island Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $27.50 price objective on shares of The First of Long Island Corporation in a research note on Wednesday, April 5th.

Institutional investors have recently bought and sold shares of the company. Basswood Capital Management L.L.C. raised its position in The First of Long Island Corporation by 38.1% in the fourth quarter. Basswood Capital Management L.L.C. now owns 1,207,971 shares of the bank’s stock valued at $34,488,000 after buying an additional 333,299 shares during the last quarter. Vanguard Group Inc. raised its position in The First of Long Island Corporation by 9.9% in the first quarter. Vanguard Group Inc. now owns 925,313 shares of the bank’s stock valued at $25,030,000 after buying an additional 83,555 shares during the last quarter. Franklin Resources Inc. raised its position in The First of Long Island Corporation by 84.5% in the fourth quarter. Franklin Resources Inc. now owns 778,400 shares of the bank’s stock valued at $22,223,000 after buying an additional 356,500 shares during the last quarter. Renaissance Technologies LLC raised its position in The First of Long Island Corporation by 7.8% in the first quarter. Renaissance Technologies LLC now owns 517,481 shares of the bank’s stock valued at $13,998,000 after buying an additional 37,577 shares during the last quarter. Finally, State Street Corp raised its position in The First of Long Island Corporation by 67.3% in the fourth quarter. State Street Corp now owns 380,042 shares of the bank’s stock valued at $10,850,000 after buying an additional 152,823 shares during the last quarter. Hedge funds and other institutional investors own 51.46% of the company’s stock.

About The First of Long Island Corporation

The First of Long Island Corporation is a one-bank holding company. The Company provides financial services through its subsidiary, The First National Bank of Long Island (the Bank). Its services include account reconciliation services, bank by mail, personal money orders, bill payment, remote deposit, cash management services, safe deposit boxes, collection services securities transactions, controlled disbursement accounts, signature guarantee services, drive-through banking, merchant credit card services, and investment management and trust services.

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