First of Long Island (NASDAQ:FLIC) Downgraded by BidaskClub
A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised First of Long Island from a sell rating to a hold rating in a research report on Wednesday, May 8th. Boenning Scattergood started coverage on First of Long Island in a report on Monday, April 1st. They set a neutral rating for the company. Finally, ValuEngine raised First of Long Island from a sell rating to a hold rating in a report on Monday, May 13th.
FLIC opened at $21.44 on Friday. First of Long Island has a 12-month low of $17.53 and a 12-month high of $26.80. The company has a market capitalization of $533.88 million, a PE ratio of 13.32 and a beta of 0.73. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.99.
In related news, CEO Michael N. Vittorio sold 3,000 shares of First of Long Island stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $22.60, for a total transaction of $67,800.00. Following the completion of the sale, the chief executive officer now directly owns 112,679 shares of the company’s stock, valued at approximately $2,546,545.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.93% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in First of Long Island during the 4th quarter worth approximately $28,000. Legal & General Group Plc lifted its holdings in First of Long Island by 20.4% during the 4th quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock worth $97,000 after purchasing an additional 817 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in First of Long Island by 425.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,137 shares of the bank’s stock worth $113,000 after purchasing an additional 4,159 shares during the last quarter. SG Americas Securities LLC acquired a new stake in First of Long Island during the 1st quarter worth approximately $134,000. Finally, Advisor Group Inc. lifted its holdings in First of Long Island by 659.2% during the 4th quarter. Advisor Group Inc. now owns 7,038 shares of the bank’s stock worth $141,000 after purchasing an additional 6,111 shares during the last quarter. 54.54% 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 small and medium-sized 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 money market products.
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