Brokerages Anticipate First of Long Island Corp (FLIC) to Post $0.38 Earnings Per Share

Shares of First of Long Island Corp (NASDAQ:FLIC) have received an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Zacks has also given First of Long Island an industry rank of 22 out of 265 based on the ratings given to related companies.

FLIC has been the topic of several analyst reports. Zacks Investment Research cut shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. ValuEngine cut shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Sandler O’Neill set a $33.00 price target on shares of First of Long Island and gave the stock a “buy” rating in a research note on Wednesday. Finally, BidaskClub cut shares of First of Long Island from a “hold” rating to a “sell” rating in a research note on Friday.

First of Long Island (FLIC) traded up $0.25 during trading hours on Friday, reaching $28.10. 53,126 shares of the company’s stock were exchanged, compared to its average volume of 39,730. 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 fifty-two week low of $25.60 and a fifty-two week high of $33.50. The company has a market cap of $698.35, a P/E ratio of 18.73 and a beta of 0.77.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, December 28th. First of Long Island’s dividend payout ratio is presently 40.00%.

In related news, EVP Donald L. Manfredonia sold 1,000 shares of First of Long Island stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $29.17, for a total transaction of $29,170.00. Following the transaction, the executive vice president now owns 108,500 shares in the company, valued at approximately $3,164,945. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Milbrey Rennie Taylor sold 2,079 shares of First of Long Island stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $30.11, for a total transaction of $62,598.69. Following the transaction, the director now owns 20,001 shares in the company, valued at approximately $602,230.11. The disclosure for this sale can be found here. Insiders have sold a total of 22,434 shares of company stock worth $661,149 in the last quarter. Corporate insiders own 4.83% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLIC. SG Americas Securities LLC purchased a new position in shares of First of Long Island during the 3rd quarter valued at $105,000. Nordea Investment Management AB lifted its stake in 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 worth $152,000 after purchasing an additional 1,300 shares in the last quarter. Legal & General Group Plc lifted its stake in 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 worth $164,000 after purchasing an additional 630 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in First of Long Island in the 2nd quarter worth $204,000. Finally, GSA Capital Partners LLP purchased a new stake in First of Long Island in the 2nd quarter worth $227,000. Institutional investors own 53.63% of the company’s stock.

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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.

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