The First of Long Island Corporation (NASDAQ:FLIC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently weighed in on FLIC. Zacks Investment Research raised The First of Long Island Corporation from a “strong sell” rating to a “hold” rating in a research report on Monday, July 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $30.00 target price on shares of The First of Long Island Corporation in a research report on Wednesday, May 3rd.

Shares of The First of Long Island Corporation (FLIC) traded up 0.19% during mid-day trading on Friday, hitting $27.05. The stock had a trading volume of 49,581 shares. The First of Long Island Corporation has a one year low of $25.08 and a one year high of $40.40. The stock has a market cap of $659.53 million, a price-to-earnings ratio of 19.29 and a beta of 0.78. The firm has a 50 day moving average of $27.83 and a 200 day moving average of $27.48.

The First of Long Island Corporation (NASDAQ:FLIC) last released its earnings results on Friday, July 28th. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The First of Long Island Corporation had a return on equity of 10.68% and a net margin of 28.29%. The business had revenue of $26.14 million for the quarter, compared to the consensus estimate of $25.86 million. On average, analysts forecast that The First of Long Island Corporation will post $1.51 earnings per share for the current year.

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In other The First of Long Island Corporation news, insider Donald L. Manfredonia sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $29.93, for a total transaction of $29,930.00. Following the completion of the transaction, the insider now owns 97,231 shares in the company, valued at $2,910,123.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark D. Curtis sold 6,843 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $27.53, for a total transaction of $188,387.79. Following the transaction, the insider now owns 40,764 shares of the company’s stock, valued at approximately $1,122,232.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,843 shares of company stock valued at $303,668. Corporate insiders own 4.83% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB acquired a new position in shares of The First of Long Island Corporation during the first quarter worth approximately $108,000. Tower Research Capital LLC TRC boosted its position in shares of The First of Long Island Corporation by 3,563.7% in the first quarter. Tower Research Capital LLC TRC now owns 4,140 shares of the bank’s stock worth $112,000 after buying an additional 4,027 shares in the last quarter. Legal & General Group Plc boosted its position in shares of The First of Long Island Corporation by 12.3% in the second quarter. Legal & General Group Plc now owns 5,752 shares of the bank’s stock worth $164,000 after buying an additional 630 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of The First of Long Island Corporation during the first quarter worth approximately $163,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of The First of Long Island Corporation during the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

The First of Long Island Corporation Company Profile

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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