First of Long Island (FLIC) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of First of Long Island (NASDAQ:FLIC) from a strong sell rating to a sell rating in a report issued on Saturday morning.

FLIC has been the subject of a number of other reports. BidaskClub upgraded First of Long Island from a sell rating to a hold rating in a research note on Thursday, October 18th. Zacks Investment Research upgraded First of Long Island from a strong sell rating to a hold rating in a research note on Monday, October 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. First of Long Island presently has a consensus rating of Hold and an average price target of $27.33.

NASDAQ:FLIC opened at $19.88 on Friday. The stock has a market capitalization of $551.03 million, a P/E ratio of 13.43 and a beta of 0.63. First of Long Island has a one year low of $19.09 and a one year high of $30.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings results on Tuesday, October 30th. The bank reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. The business had revenue of $23.07 million during the quarter, compared to the consensus estimate of $28.29 million. First of Long Island had a return on equity of 10.98% and a net margin of 28.61%. On average, analysts predict that First of Long Island will post 1.69 EPS for the current year.

In other First of Long Island news, insider Donald L. Manfredonia sold 3,772 shares of the firm’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $21.08, for a total value of $79,513.76. Following the transaction, the insider now owns 112,528 shares of the company’s stock, valued at $2,372,090.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $20.51, for a total transaction of $61,530.00. Following the completion of the transaction, the insider now directly owns 100,135 shares in the company, valued at approximately $2,053,768.85. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FLIC. SG Americas Securities LLC bought a new position in First of Long Island in the second quarter worth about $106,000. Fusion Family Wealth LLC lifted its holdings in First of Long Island by 187.1% in the third quarter. Fusion Family Wealth LLC now owns 6,675 shares of the bank’s stock worth $145,000 after acquiring an additional 4,350 shares during the last quarter. Engineers Gate Manager LP bought a new position in First of Long Island in the second quarter worth about $222,000. Mackay Shields LLC bought a new position in First of Long Island in the second quarter worth about $295,000. Finally, MetLife Investment Advisors LLC lifted its holdings in First of Long Island by 61.3% in the third quarter. MetLife Investment Advisors LLC now owns 16,009 shares of the bank’s stock worth $348,000 after acquiring an additional 6,085 shares during the last quarter. 55.09% of the stock is currently owned by hedge funds and other 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 privately owned 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 personal and non-personal money market and savings products.

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