The First of Long Island Corp. (FLIC) Sees Unusually-High Trading Volume
Shares of The First of Long Island Corp. (NASDAQ:FLIC) saw unusually-strong trading volume on Monday . Approximately 51,728 shares changed hands during mid-day trading, a decline of 9% from the previous session’s volume of 56,737 shares.The stock last traded at $30.33 and had previously closed at $30.33.
A number of analysts have recently commented on FLIC shares. Zacks Investment Research downgraded The First of Long Island Corp. from a “hold” rating to a “sell” rating in a research note on Monday, April 18th. Raymond James Financial Inc. downgraded The First of Long Island Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, May 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $29.60.
The stock has a 50 day moving average price of $29.86 and a 200 day moving average price of $28.83. The company has a market cap of $432.04 million and a P/E ratio of 16.02.
The First of Long Island Corp. (NASDAQ:FLIC) last issued its earnings results on Friday, April 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. On average, equities research analysts anticipate that The First of Long Island Corp. will post $2.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Tuesday, July 5th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.64%.
In other The First of Long Island Corp. news, Director Paul T. Canarick purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were acquired at an average cost of $29.00 per share, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 61,744 shares in the company, valued at $1,790,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
A number of large investors have added to or reduced their stakes in FLIC. Dimensional Fund Advisors LP raised its stake in The First of Long Island Corp. by 47.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 50,222 shares of the company’s stock worth $1,507,000 after buying an additional 16,207 shares during the period. Boston Partners raised its stake in The First of Long Island Corp. by 6.0% in the fourth quarter. Boston Partners now owns 81,180 shares of the company’s stock worth $2,435,000 after buying an additional 4,584 shares during the period. Finally, EJF Capital LLC raised its stake in The First of Long Island Corp. by 19.3% in the fourth quarter. EJF Capital LLC now owns 463,833 shares of the company’s stock worth $13,915,000 after buying an additional 75,101 shares during the period.
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-in banking, merchant credit card services, and investment management and trust services.
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