Shares of First of Long Island Corp (NASDAQ:FLIC) have received an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Zacks has also assigned First of Long Island an industry rank of 164 out of 257 based on the ratings given to its competitors.
FLIC has been the subject of several research analyst reports. BidaskClub downgraded shares of First of Long Island from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 28th. ValuEngine downgraded shares of First of Long Island from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research downgraded shares of First of Long Island from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 1st.
FLIC opened at $20.99 on Friday. First of Long Island has a twelve month low of $19.09 and a twelve month high of $31.52. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $534.85 million, a P/E ratio of 14.18 and a beta of 0.65.
First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Tuesday, October 30th. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.17. First of Long Island had a net margin of 28.61% and a return on equity of 11.10%. The firm had revenue of $23.07 million during the quarter, compared to the consensus estimate of $28.29 million. On average, sell-side analysts expect that First of Long Island will post 1.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Wednesday, October 10th were issued a $0.17 dividend. This is an increase from First of Long Island’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, October 9th. This represents a $0.68 dividend on an annualized basis and a yield of 3.24%. First of Long Island’s dividend payout ratio is presently 45.95%.
In other First of Long Island news, insider Michael N. Vittorio sold 3,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $20.51, for a total value of $61,530.00. Following the completion of the sale, the insider now owns 100,135 shares in the company, valued at approximately $2,053,768.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.64% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in FLIC. Maltese Capital Management LLC acquired a new stake in First of Long Island in the 2nd quarter valued at about $4,664,000. Wedge Capital Management L L P NC raised its holdings in First of Long Island by 80.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 403,846 shares of the bank’s stock valued at $10,036,000 after acquiring an additional 180,053 shares during the last quarter. BlackRock Inc. raised its holdings in First of Long Island by 8.3% in the 2nd quarter. BlackRock Inc. now owns 1,822,792 shares of the bank’s stock valued at $45,297,000 after acquiring an additional 139,488 shares during the last quarter. Millennium Management LLC acquired a new stake in First of Long Island in the 2nd quarter valued at about $3,115,000. Finally, Dimensional Fund Advisors LP raised its holdings in First of Long Island by 20.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 601,227 shares of the bank’s stock valued at $14,941,000 after acquiring an additional 102,257 shares during the last quarter. Institutional investors own 56.07% of the company’s stock.
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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