BidaskClub lowered shares of First of Long Island Corp (NASDAQ:FLIC) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research upgraded First of Long Island Corp from a hold rating to a buy rating and set a $31.00 price target for the company in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods restated a hold rating and issued a $30.00 price target on shares of First of Long Island Corp in a research report on Wednesday, May 3rd.

Shares of First of Long Island Corp (NASDAQ FLIC) opened at 27.15 on Friday. The stock has a 50 day moving average price of $27.79 and a 200 day moving average price of $27.48. First of Long Island Corp has a 1-year low of $20.84 and a 1-year high of $30.15. The company has a market capitalization of $661.97 million, a price-to-earnings ratio of 19.37 and a beta of 0.78.

First of Long Island Corp (NASDAQ:FLIC) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. First of Long Island Corp had a return on equity of 11.29% and a net margin of 34.94%. The company had revenue of $26.14 million during the quarter, compared to analyst estimates of $25.86 million. On average, equities analysts anticipate that First of Long Island Corp will post $1.51 EPS for the current fiscal year.

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In other news, insider Donald L. Manfredonia sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $28.71, for a total value of $57,420.00. Following the completion of the sale, the insider now directly owns 99,731 shares in the company, valued at $2,863,277.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark D. Curtis sold 6,843 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $27.53, for a total value of $188,387.79. Following the completion of the sale, the insider now owns 40,764 shares of the company’s stock, valued at $1,122,232.92. The disclosure for this sale can be found here. Insiders sold 10,843 shares of company stock valued at $303,668 over the last 90 days. Company insiders own 4.83% of the company’s stock.

Several large investors have recently bought and sold shares of FLIC. Wasatch Advisors Inc. raised its stake in First of Long Island Corp by 11.0% in 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 raised its stake in First of Long Island Corp by 6.4% in 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. raised its stake in First of Long Island Corp by 17.7% in 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 raised its stake in First of Long Island Corp by 17.3% in 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 raised its stake in First of Long Island Corp by 19.3% in 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 51.25% of the company’s stock.

First of Long Island Corp 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.

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