First of Long Island (NASDAQ:FLIC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other equities research analysts have also issued reports on the company. ValuEngine lowered First of Long Island from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded First of Long Island from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Thursday, September 7th. Finally, Sandler O’Neill set a $33.00 target price on First of Long Island and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $31.67.

Shares of First of Long Island (FLIC) opened at $28.10 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.24. First of Long Island has a 12 month low of $25.60 and a 12 month high of $33.50. The stock has a market capitalization of $698.35, a PE ratio of 18.73 and a beta of 0.77.

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

In other First of Long Island news, Director Walter C. Teagle III sold 5,630 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $29.75, for a total transaction of $167,492.50. Following the completion of the sale, the director now owns 129,810 shares in the company, valued at approximately $3,861,847.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard Kick sold 3,975 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $29.00, for a total value of $115,275.00. Following the sale, the insider now owns 89,310 shares of the company’s stock, valued at approximately $2,589,990. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,434 shares of company stock valued at $661,149. 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 business. Grandeur Peak Global Advisors LLC grew its stake 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 purchasing an additional 17,250 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 34,381 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake 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 purchasing an additional 6,145 shares in the last quarter. Wasatch Advisors Inc. grew its stake 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 purchasing an additional 68,262 shares in the last quarter. Finally, Granite Investment Partners LLC acquired a new stake in First of Long Island during the 3rd quarter valued at approximately $535,000. Hedge funds and other 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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