First of Long Island Corp (NASDAQ:FLIC) has earned a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Zacks has also given First of Long Island an industry rank of 171 out of 255 based on the ratings given to its competitors.
Several equities analysts have weighed in on FLIC shares. Zacks Investment Research raised First of Long Island from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Friday, January 18th. BidaskClub lowered First of Long Island from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Finally, ValuEngine raised First of Long Island from a “strong sell” rating to a “sell” rating in a report on Saturday, December 1st.
First of Long Island (NASDAQ:FLIC) last released its earnings results on Wednesday, January 30th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). First of Long Island had a net margin of 29.59% and a return on equity of 11.06%. The business had revenue of $24.71 million during the quarter, compared to the consensus estimate of $28.51 million. Analysts anticipate that First of Long Island will post 1.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.09%. The ex-dividend date was Monday, March 11th. First of Long Island’s dividend payout ratio (DPR) is 41.72%.
In other First of Long Island news, insider Michael N. Vittorio sold 3,000 shares of the stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $21.12, for a total transaction of $63,360.00. Following the completion of the transaction, the insider now directly owns 115,679 shares of the company’s stock, valued at $2,443,140.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.64% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in FLIC. Basswood Capital Management L.L.C. grew its holdings in First of Long Island by 101.1% during the fourth quarter. Basswood Capital Management L.L.C. now owns 488,568 shares of the bank’s stock valued at $9,747,000 after purchasing an additional 245,625 shares during the period. M3F Inc. purchased a new stake in shares of First of Long Island during the third quarter worth $2,647,000. Dimensional Fund Advisors LP lifted its position in shares of First of Long Island by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 671,303 shares of the bank’s stock worth $14,601,000 after acquiring an additional 70,076 shares in the last quarter. Royce & Associates LP lifted its position in shares of First of Long Island by 4,439.7% during the fourth quarter. Royce & Associates LP now owns 57,700 shares of the bank’s stock worth $1,151,000 after acquiring an additional 56,429 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of First of Long Island during the third quarter worth $1,074,000. 55.46% of the stock is owned by institutional investors and hedge funds.
First of Long Island Company Profile
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.
Further Reading: Analyst Ratings
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