First of Long Island (FLIC) Hits New 52-Week Low at $21.30
First of Long Island Corp (NASDAQ:FLIC) hit a new 52-week low on Thursday . The stock traded as low as $21.30 and last traded at $21.60, with a volume of 237 shares trading hands. The stock had previously closed at $21.50.
Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of First of Long Island from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th. Zacks Investment Research raised shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, ValuEngine downgraded shares of First of Long Island from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 31st. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has an average rating of “Sell” and an average target price of $30.00.
The firm has a market cap of $546.55 million, a price-to-earnings ratio of 14.49 and a beta of 0.62. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.11.
In other First of Long Island news, Director John J. Desmond purchased 4,350 shares of First of Long Island stock in a transaction on Thursday, August 2nd. The stock was bought at an average cost of $22.79 per share, with a total value of $99,136.50. Following the transaction, the director now owns 4,550 shares of the company’s stock, valued at approximately $103,694.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.64% of the company’s stock.
Large investors have recently bought and sold shares of the company. Stratos Wealth Partners LTD. purchased a new position in shares of First of Long Island during the 1st quarter valued at approximately $100,000. SG Americas Securities LLC purchased a new position in shares of First of Long Island during the 2nd quarter valued at approximately $106,000. Engineers Gate Manager LP purchased a new position in shares of First of Long Island during the 2nd quarter valued at approximately $222,000. Mackay Shields LLC purchased a new position in shares of First of Long Island during the 2nd quarter valued at approximately $295,000. Finally, Aperio Group LLC increased its holdings in shares of First of Long Island by 42.0% during the 1st quarter. Aperio Group LLC now owns 11,578 shares of the bank’s stock valued at $318,000 after purchasing an additional 3,425 shares in the last quarter. 56.70% of the stock is owned by hedge funds and other institutional investors.
About First of Long Island (NASDAQ:FLIC)
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.
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