First of Long Island (NASDAQ:FLIC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “The First of Long Island Corporation is a one-bank holding company. “
Other analysts also recently issued reports about the company. BidaskClub downgraded First of Long Island from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine downgraded First of Long Island from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Sandler O’Neill set a $33.00 price objective on First of Long Island and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. First of Long Island currently has an average rating of “Hold” and an average target price of $31.67.
First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Monday, October 30th. The bank reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $26.87 million during the quarter, compared to the consensus estimate of $27.05 million. First of Long Island had a return on equity of 10.81% and a net margin of 28.36%. equities analysts expect that First of Long Island will post 1.5 EPS for the current fiscal year.
In related news, Director Walter C. Teagle III sold 5,630 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $29.75, for a total transaction of $167,492.50. Following the completion of the sale, the director now directly owns 129,810 shares of the company’s stock, valued at $3,861,847.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald L. Manfredonia sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $29.17, for a total value of $29,170.00. Following the sale, the executive vice president now directly owns 108,500 shares of the company’s stock, valued at $3,164,945. The disclosure for this sale can be found here. Insiders have sold 22,434 shares of company stock valued at $661,149 over the last ninety days. 4.83% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of FLIC. SG Americas Securities LLC purchased a new stake in shares of First of Long Island during the third quarter valued at approximately $105,000. Nordea Investment Management AB grew its holdings in First of Long Island by 32.5% during the second quarter. Nordea Investment Management AB now owns 5,300 shares of the bank’s stock valued at $152,000 after purchasing an additional 1,300 shares during the period. Legal & General Group Plc grew its holdings in First of Long Island by 12.3% during the second quarter. Legal & General Group Plc now owns 5,752 shares of the bank’s stock valued at $164,000 after purchasing an additional 630 shares during the period. UBS Asset Management Americas Inc. bought a new position in First of Long Island during the second quarter valued at $204,000. Finally, GSA Capital Partners LLP bought a new position in First of Long Island during the second quarter valued at $227,000. 53.63% of the stock is owned by institutional investors.
TRADEMARK VIOLATION WARNING: This story was posted by Community Financial News and is owned by of Community Financial News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.com-unik.info/2018/01/08/first-of-long-island-flic-downgraded-to-hold-at-zacks-investment-research.html.
First of Long Island 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First of Long Island Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First of Long Island and related companies with MarketBeat.com's FREE daily email newsletter.