Separately, Zacks Investment Research raised First of Long Island from a sell rating to a hold rating in a research report on Tuesday, October 1st.
NASDAQ FLIC opened at $22.97 on Friday. The stock’s 50 day moving average is $22.69 and its 200 day moving average is $22.12. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.96. First of Long Island has a 12 month low of $17.53 and a 12 month high of $24.45. The stock has a market cap of $565.95 million, a PE ratio of 14.09 and a beta of 0.63.
First of Long Island (NASDAQ:FLIC) last released its earnings results on Monday, July 29th. The bank reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $28.00 million for the quarter, compared to the consensus estimate of $27.81 million. First of Long Island had a return on equity of 10.80% and a net margin of 28.68%. On average, analysts forecast that First of Long Island will post 1.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, October 8th. This represents a $0.72 annualized dividend and a dividend yield of 3.13%. This is an increase from First of Long Island’s previous quarterly dividend of $0.17. First of Long Island’s payout ratio is currently 44.17%.
In other news, insider Michael N. Vittorio sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $21.13, for a total transaction of $63,390.00. Following the transaction, the insider now owns 109,679 shares of the company’s stock, valued at approximately $2,317,517.27. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.93% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FLIC. Susquehanna International Group LLP bought a new position in First of Long Island in the 2nd quarter valued at $3,285,000. Nuveen Asset Management LLC bought a new position in First of Long Island in the 2nd quarter valued at $2,526,000. Morgan Stanley grew its position in shares of First of Long Island by 1,413.5% during the 2nd quarter. Morgan Stanley now owns 89,040 shares of the bank’s stock worth $1,788,000 after buying an additional 83,157 shares in the last quarter. Colony Group LLC bought a new position in shares of First of Long Island during the 2nd quarter worth $1,172,000. Finally, FMR LLC grew its position in shares of First of Long Island by 292,187.5% during the 1st quarter. FMR LLC now owns 46,766 shares of the bank’s stock worth $1,025,000 after buying an additional 46,750 shares in the last quarter. 57.35% of the stock is currently owned by institutional investors.
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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