Zacks: First of Long Island Corp (FLIC) Given Consensus Recommendation of “Hold” by Brok

First of Long Island Corp (NASDAQ:FLIC) has been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.

Zacks has also assigned First of Long Island an industry rank of 144 out of 255 based on the ratings given to related companies.

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A number of research analysts have recently issued reports on FLIC shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $31.00 target price on shares of First of Long Island in a research note on Tuesday, February 27th. Zacks Investment Research cut shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. ValuEngine cut shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Sandler O’Neill cut shares of First of Long Island from a “buy” rating to a “hold” rating and set a $28.00 target price for the company. in a research note on Tuesday, May 1st. Finally, BidaskClub cut shares of First of Long Island from a “hold” rating to a “sell” rating in a research note on Friday, May 4th.

First of Long Island opened at $26.45 on Friday, Marketbeat.com reports. First of Long Island has a 1 year low of $23.30 and a 1 year high of $33.50. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $666.63 million, a PE ratio of 17.08 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC) last posted its earnings results on Tuesday, May 1st. The bank reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. First of Long Island had a net margin of 28.54% and a return on equity of 11.06%. The company had revenue of $28.45 million during the quarter, compared to analysts’ expectations of $27.77 million. sell-side analysts anticipate that First of Long Island will post 1.75 EPS for the current year.

In related news, insider Donald L. Manfredonia sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $25.00, for a total value of $87,500.00. Following the completion of the sale, the insider now owns 119,631 shares of the company’s stock, valued at $2,990,775. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark D. Curtis sold 5,029 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $25.52, for a total transaction of $128,340.08. Following the completion of the sale, the insider now directly owns 51,304 shares of the company’s stock, valued at approximately $1,309,278.08. The disclosure for this sale can be found here. In the last three months, insiders sold 11,529 shares of company stock valued at $292,220. 4.64% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of FLIC. Stratos Wealth Partners LTD. acquired a new stake in shares of First of Long Island in the first quarter valued at approximately $100,000. SG Americas Securities LLC increased its holdings in shares of First of Long Island by 55.3% in the fourth quarter. SG Americas Securities LLC now owns 5,336 shares of the bank’s stock valued at $152,000 after purchasing an additional 1,901 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of First of Long Island in the fourth quarter valued at approximately $214,000. Aperio Group LLC acquired a new stake in shares of First of Long Island in the fourth quarter valued at approximately $232,000. Finally, Alpine Woods Capital Investors LLC acquired a new stake in shares of First of Long Island in the first quarter valued at approximately $233,000. 55.33% of the stock is owned by institutional investors and hedge funds.

About First of Long Island

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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