ValuEngine downgraded shares of The First of Long Island Corporation (NASDAQ:FLIC) from a buy rating to a hold rating in a research note published on Monday.

FLIC has been the subject of several other reports. Zacks Investment Research upgraded The First of Long Island Corporation from a strong sell rating to a hold rating in a research report on Monday, July 3rd. BidaskClub upgraded The First of Long Island Corporation from a sell rating to a hold rating in a research report on Wednesday, July 12th.

The First of Long Island Corporation (FLIC) traded up 1.80% during trading on Monday, reaching $31.05. The company had a trading volume of 7,370 shares. The First of Long Island Corporation has a 52 week low of $25.08 and a 52 week high of $40.40. The company’s 50-day moving average is $28.12 and its 200 day moving average is $27.64. The firm has a market capitalization of $757.06 million, a price-to-earnings ratio of 22.15 and a beta of 0.81.

The First of Long Island Corporation (NASDAQ:FLIC) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $26.14 million during the quarter, compared to analyst estimates of $25.86 million. The First of Long Island Corporation had a return on equity of 10.68% and a net margin of 28.29%. Equities analysts anticipate that The First of Long Island Corporation will post $1.51 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Wednesday, October 11th will be given a dividend of $0.15 per share. This is a positive change from The First of Long Island Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Tuesday, October 10th. The First of Long Island Corporation’s dividend payout ratio (DPR) is currently 40.19%.

In other news, insider Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $26.80, for a total transaction of $80,400.00. Following the completion of the transaction, the insider now directly owns 99,006 shares in the company, valued at $2,653,360.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.83% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. boosted its position in shares of The First of Long Island Corporation by 11.0% during the second quarter. Wasatch Advisors Inc. now owns 548,336 shares of the bank’s stock worth $15,682,000 after buying an additional 54,423 shares during the period. State Street Corp boosted its position in shares of The First of Long Island Corporation by 6.4% during the second quarter. State Street Corp now owns 402,592 shares of the bank’s stock worth $11,513,000 after buying an additional 24,051 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of The First of Long Island Corporation by 17.7% during the second quarter. Goldman Sachs Group Inc. now owns 741,182 shares of the bank’s stock worth $21,198,000 after buying an additional 111,227 shares during the period. Voya Investment Management LLC boosted its position in shares of The First of Long Island Corporation by 17.3% during the second quarter. Voya Investment Management LLC now owns 11,021 shares of the bank’s stock worth $315,000 after buying an additional 1,628 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of The First of Long Island Corporation by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 368,488 shares of the bank’s stock worth $10,539,000 after buying an additional 59,491 shares during the period. Institutional investors and hedge funds own 51.79% of the company’s stock.

The First of Long Island Corporation Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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