Several other equities analysts have also recently weighed in on the company. ValuEngine cut First of Long Island from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research cut First of Long Island from a buy rating to a hold rating in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $31.33.
First of Long Island (NASDAQ FLIC) traded up $0.30 on Wednesday, reaching $28.30. The company had a trading volume of 74,200 shares, compared to its average volume of 63,350. First of Long Island has a 52-week low of $25.60 and a 52-week high of $33.50. The firm has a market capitalization of $695.83, a PE ratio of 18.87 and a beta of 0.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.24.
First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Monday, October 30th. The bank reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. First of Long Island had a return on equity of 11.09% and a net margin of 34.77%. The company had revenue of $26.87 million during the quarter, compared to analysts’ expectations of $27.05 million. research analysts forecast that First of Long Island will post 1.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, December 28th. First of Long Island’s payout ratio is currently 40.00%.
In other First of Long Island news, insider Richard Kick sold 3,975 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $29.00, for a total transaction of $115,275.00. Following the transaction, the insider now owns 89,310 shares of the company’s stock, valued at approximately $2,589,990. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Milbrey Rennie Taylor sold 2,079 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $30.11, for a total value of $62,598.69. Following the transaction, the director now directly owns 20,001 shares in the company, valued at approximately $602,230.11. The disclosure for this sale can be found here. Insiders sold a total of 22,434 shares of company stock worth $661,149 over the last three months. 4.83% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of First of Long Island in the 3rd quarter valued at $105,000. Nordea Investment Management AB lifted its stake in shares of First of Long Island by 32.5% in the 2nd quarter. Nordea Investment Management AB now owns 5,300 shares of the bank’s stock valued at $152,000 after purchasing an additional 1,300 shares during the period. Legal & General Group Plc increased its position in shares of First of Long Island by 12.3% in the 2nd quarter. Legal & General Group Plc now owns 5,752 shares of the bank’s stock valued at $164,000 after buying an additional 630 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of First of Long Island in the 2nd quarter valued at $204,000. Finally, GSA Capital Partners LLP bought a new stake in shares of First of Long Island in the 2nd quarter valued at $227,000. 53.63% of the stock is currently owned by institutional investors.
About First of Long Island
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.
Receive News & Ratings for First of Long Island Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First of Long Island and related companies with MarketBeat.com's FREE daily email newsletter.