First of Long Island Corp (FLIC) Receives Consensus Rating of “Hold” from Analysts
Shares of First of Long Island Corp (NASDAQ:FLIC) have received an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.
Zacks has also given First of Long Island an industry rank of 178 out of 255 based on the ratings given to related companies.
A number of equities research analysts recently issued reports on FLIC shares. Zacks Investment Research raised First of Long Island from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. BidaskClub downgraded First of Long Island from a “sell” rating to a “strong sell” rating in a report on Saturday, July 28th. Finally, ValuEngine downgraded First of Long Island from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 31st.
First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Monday, July 30th. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.05). The firm had revenue of $28.56 million for the quarter, compared to analysts’ expectations of $28.73 million. First of Long Island had a net margin of 28.08% and a return on equity of 11.05%. research analysts predict that First of Long Island will post 1.65 earnings per share for the current fiscal year.
In related news, Director John J. Desmond acquired 4,350 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was acquired at an average price of $22.79 per share, with a total value of $99,136.50. Following the acquisition, the director now directly owns 4,550 shares in the company, valued at approximately $103,694.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.64% of the company’s stock.
Several hedge funds have recently modified their holdings of FLIC. Boston Partners raised its holdings in First of Long Island by 1.6% in the 2nd quarter. Boston Partners now owns 214,101 shares of the bank’s stock worth $5,320,000 after purchasing an additional 3,300 shares during the period. Wells Fargo & Company MN increased its stake in First of Long Island by 6.5% during the 1st quarter. Wells Fargo & Company MN now owns 55,685 shares of the bank’s stock worth $1,529,000 after buying an additional 3,402 shares in the last quarter. Aperio Group LLC increased its stake in First of Long Island by 42.0% during the 1st quarter. Aperio Group LLC now owns 11,578 shares of the bank’s stock worth $318,000 after buying an additional 3,425 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in First of Long Island by 2.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 126,379 shares of the bank’s stock worth $3,470,000 after buying an additional 3,480 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in First of Long Island during the 1st quarter worth approximately $100,000. 56.70% of the stock is owned by institutional investors and hedge funds.
About First of Long Island
The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to privately owned businesses, professionals, consumers, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as personal and non-personal money market and savings products.
Further Reading: Fiduciary
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