First of Long Island (NASDAQ:FLIC) has been assigned a $33.00 price objective by analysts at Sandler O’Neill in a report issued on Wednesday. The brokerage presently has a “buy” rating on the bank’s stock. Sandler O’Neill’s price objective would suggest a potential upside of 19.13% from the stock’s current price.

FLIC has been the topic of several other research reports. ValuEngine lowered shares of First of Long Island from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of First of Long Island from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Thursday, September 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.67.

First of Long Island (FLIC) traded down $0.40 during mid-day trading on Wednesday, hitting $27.70. 33,863 shares of the company traded hands, compared to its average volume of 48,800. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.96 and a current ratio of 0.96. First of Long Island has a 52 week low of $25.60 and a 52 week high of $33.50. The company has a market cap of $681.05, a price-to-earnings ratio of 18.47 and a beta of 0.77.

First of Long Island (NASDAQ:FLIC) last released its earnings results on Monday, October 30th. The bank reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. First of Long Island had a net margin of 28.36% and a return on equity of 10.81%. The company had revenue of $26.87 million for the quarter, compared to analyst estimates of $27.05 million. equities analysts predict that First of Long Island will post 1.5 earnings per share for the current fiscal year.

In other news, Director Walter C. Teagle III sold 5,630 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $29.75, for a total value of $167,492.50. Following the completion of the sale, the director now directly owns 129,810 shares of the company’s stock, valued at approximately $3,861,847.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Milbrey Rennie Taylor sold 2,079 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $30.11, for a total transaction of $62,598.69. Following the completion of the sale, the director now directly owns 20,001 shares of the company’s stock, valued at $602,230.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,434 shares of company stock valued at $661,149. Corporate insiders own 4.83% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Grandeur Peak Global Advisors LLC lifted its position in First of Long Island by 50.9% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 51,125 shares of the bank’s stock valued at $1,557,000 after acquiring an additional 17,250 shares during the period. Dimensional Fund Advisors LP lifted its position in First of Long Island by 9.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 402,869 shares of the bank’s stock valued at $12,268,000 after acquiring an additional 34,381 shares during the period. Schwab Charles Investment Management Inc. lifted its position in First of Long Island by 5.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 118,273 shares of the bank’s stock valued at $3,602,000 after acquiring an additional 6,145 shares during the period. Wasatch Advisors Inc. lifted its position in First of Long Island by 12.4% during the 3rd quarter. Wasatch Advisors Inc. now owns 616,598 shares of the bank’s stock valued at $18,775,000 after acquiring an additional 68,262 shares during the period. Finally, Granite Investment Partners LLC purchased a new position in First of Long Island during the 3rd quarter valued at about $535,000. 53.63% of the stock is owned by institutional investors.

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First of Long Island 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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