A number of other equities research analysts also recently weighed in on FLIC. ValuEngine downgraded First of Long Island from a hold rating to a sell rating in a report on Friday, April 3rd. TheStreet downgraded First of Long Island from a b- rating to a c+ rating in a report on Friday, March 13th. Zacks Investment Research downgraded First of Long Island from a hold rating to a sell rating in a report on Wednesday, May 27th. Finally, Piper Sandler raised First of Long Island from a neutral rating to an overweight rating and lifted their price objective for the company from $16.00 to $19.00 in a report on Tuesday, May 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. First of Long Island presently has an average rating of Hold and an average target price of $17.50.
FLIC stock opened at $16.37 on Friday. First of Long Island has a twelve month low of $12.15 and a twelve month high of $25.53. The company has a market cap of $390.35 million, a PE ratio of 10.04 and a beta of 0.50. The business’s 50-day simple moving average is $15.41 and its 200 day simple moving average is $18.98. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.24.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Thursday, July 9th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Wednesday, July 8th. First of Long Island’s payout ratio is currently 41.14%.
In other news, Director Milbrey Rennie Taylor sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $17.55, for a total value of $35,100.00. Insiders sold a total of 4,000 shares of company stock worth $69,280 over the last three months. 5.35% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in FLIC. FinTrust Capital Advisors LLC acquired a new position in shares of First of Long Island in the 1st quarter worth approximately $29,000. Great West Life Assurance Co. Can acquired a new position in shares of First of Long Island in the 4th quarter worth approximately $77,000. First Quadrant L P CA acquired a new position in shares of First of Long Island in the 1st quarter worth approximately $103,000. Advisor Group Holdings Inc. bought a new position in First of Long Island in the 1st quarter worth approximately $112,000. Finally, Victory Capital Management Inc. raised its position in First of Long Island by 18.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,958 shares of the bank’s stock worth $124,000 after purchasing an additional 788 shares during the last quarter. 56.58% of the stock is currently 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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