Shares of First of Long Island Corp (NASDAQ:FLIC) have received an average broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating.
Brokerages have set a one year consensus price objective of $25.00 for the company and are expecting that the company will post $0.43 earnings per share for the current quarter, according to Zacks. Zacks has also given First of Long Island an industry rank of 68 out of 255 based on the ratings given to its competitors.
FLIC has been the topic of a number of research reports. BidaskClub cut First of Long Island from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Zacks Investment Research upgraded First of Long Island from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, February 5th.
First of Long Island stock traded down $0.10 during midday trading on Friday, reaching $23.27. The stock had a trading volume of 46,922 shares, compared to its average volume of 46,607. First of Long Island has a 12 month low of $20.05 and a 12 month high of $25.53. The firm’s 50-day moving average price is $23.69 and its 200 day moving average price is $23.28. The firm has a market capitalization of $642.91 million, a PE ratio of 13.85 and a beta of 0.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.97.
First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). First of Long Island had a net margin of 26.90% and a return on equity of 11.21%. The firm had revenue of $27.32 million during the quarter, compared to the consensus estimate of $27.56 million. Equities research analysts expect that First of Long Island will post 1.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 20th. Investors of record on Wednesday, January 8th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Tuesday, January 7th. First of Long Island’s dividend payout ratio is currently 41.14%.
In related news, Director Michael N. Vittorio sold 6,570 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.27, for a total value of $152,883.90. Following the sale, the director now directly owns 107,596 shares in the company, valued at approximately $2,503,758.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.93% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of First of Long Island by 292,187.5% in the 1st quarter. FMR LLC now owns 46,766 shares of the bank’s stock valued at $1,025,000 after purchasing an additional 46,750 shares in the last quarter. Vanguard Group Inc. raised its holdings in First of Long Island by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,097,778 shares of the bank’s stock valued at $22,043,000 after buying an additional 7,130 shares during the last quarter. Morgan Stanley raised its holdings in First of Long Island by 1,413.5% in the 2nd quarter. Morgan Stanley now owns 89,040 shares of the bank’s stock valued at $1,788,000 after buying an additional 83,157 shares during the last quarter. Nuveen Asset Management LLC bought a new position in First of Long Island in the 2nd quarter valued at approximately $2,526,000. Finally, Meeder Asset Management Inc. bought a new position in First of Long Island in the 3rd quarter valued at approximately $51,000. 48.67% 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 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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