The First of Long Island Corporation (NASDAQ:FLIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $30.00 price target on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.07% from the stock’s previous close.

According to Zacks, “The First of Long Island Corporation is a one-bank holding company. “

Other equities analysts also recently issued research reports about the company. ValuEngine raised The First of Long Island Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised The First of Long Island Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.

The First of Long Island Corporation (FLIC) traded down 1.13% during midday trading on Thursday, reaching $26.30. The company’s stock had a trading volume of 39,310 shares. The stock has a market cap of $641.25 million, a price-to-earnings ratio of 18.76 and a beta of 0.79. The First of Long Island Corporation has a one year low of $25.08 and a one year high of $40.40. The stock’s 50 day moving average price is $27.44 and its 200-day moving average price is $27.42.

The First of Long Island Corporation (NASDAQ:FLIC) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $25.86 million. On average, analysts forecast that The First of Long Island Corporation will post $1.51 EPS for the current fiscal year.

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In related news, insider Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $26.80, for a total value of $80,400.00. Following the transaction, the insider now owns 99,006 shares in the company, valued at $2,653,360.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald L. Manfredonia sold 1,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $29.93, for a total value of $29,930.00. Following the completion of the transaction, the insider now owns 97,231 shares in the company, valued at approximately $2,910,123.83. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock worth $167,750 in the last quarter. Company insiders own 4.83% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its stake in The First of Long Island Corporation by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 18,909 shares of the bank’s stock valued at $541,000 after buying an additional 64 shares in the last quarter. Legal & General Group Plc boosted its stake in 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 valued at $164,000 after buying an additional 630 shares in the last quarter. Wells Fargo & Company MN boosted its stake in The First of Long Island Corporation by 1.4% in the second quarter. Wells Fargo & Company MN now owns 53,590 shares of the bank’s stock valued at $1,533,000 after buying an additional 734 shares in the last quarter. Bank of America Corp DE boosted its stake in The First of Long Island Corporation by 5.5% in the first quarter. Bank of America Corp DE now owns 16,238 shares of the bank’s stock valued at $439,000 after buying an additional 849 shares in the last quarter. Finally, American International Group Inc. boosted its stake in The First of Long Island Corporation by 7.1% in the first quarter. American International Group Inc. now owns 13,157 shares of the bank’s stock valued at $356,000 after buying an additional 871 shares in the last quarter. 51.79% of the stock is currently owned by institutional investors and hedge funds.

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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