Zacks Investment Research upgraded shares of The First of Long Island Corporation (NASDAQ:FLIC) from a hold rating to a buy rating in a research report report published on Wednesday. The firm currently has $30.00 price target on the bank’s stock.

According to Zacks, “The First of Long Island Corporation is a one-bank holding company. “

A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded The First of Long Island Corporation from a hold rating to a sell rating in a research report on Wednesday, July 19th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $30.00 price objective on shares of The First of Long Island Corporation in a research report on Wednesday, May 3rd.

Shares of The First of Long Island Corporation (FLIC) traded down 0.18% during mid-day trading on Wednesday, hitting $27.00. 32,276 shares of the stock traded hands. The company’s 50-day moving average price is $27.65 and its 200 day moving average price is $27.47. The First of Long Island Corporation has a 1-year low of $25.08 and a 1-year high of $40.40. The company has a market capitalization of $658.31 million, a PE ratio of 19.26 and a beta of 0.78.

The First of Long Island Corporation (NASDAQ:FLIC) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The First of Long Island Corporation had a return on equity of 10.68% and a net margin of 28.29%. The company had revenue of $26.14 million for the quarter, compared to the consensus estimate of $25.86 million. Equities research analysts forecast that The First of Long Island Corporation will post $1.51 EPS for the current fiscal year.

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In other The First of Long Island Corporation news, insider Donald L. Manfredonia sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $27.93, for a total value of $27,930.00. Following the completion of the sale, the insider now owns 100,231 shares of the company’s stock, valued at $2,799,451.83. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donald L. Manfredonia sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $28.71, for a total value of $57,420.00. Following the completion of the sale, the insider now directly owns 99,731 shares of the company’s stock, valued at approximately $2,863,277.01. The disclosure for this sale can be found here. In the last three months, insiders sold 10,843 shares of company stock valued at $303,668. Corporate insiders own 4.83% of the company’s stock.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of The First of Long Island Corporation by 81.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 254,803 shares of the bank’s stock valued at $7,275,000 after buying an additional 114,090 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of The First of Long Island Corporation by 50.0% in the fourth quarter. Teachers Advisors LLC now owns 33,944 shares of the bank’s stock valued at $969,000 after buying an additional 11,314 shares in the last quarter. Bank of Montreal Can increased its stake in shares of The First of Long Island Corporation by 439.3% in the first quarter. Bank of Montreal Can now owns 22,646 shares of the bank’s stock valued at $613,000 after buying an additional 18,447 shares in the last quarter. Strs Ohio acquired a new stake in shares of The First of Long Island Corporation during the first quarter valued at $3,246,000. Finally, Wells Fargo & Company MN increased its stake in shares of The First of Long Island Corporation by 3.2% in the first quarter. Wells Fargo & Company MN now owns 52,856 shares of the bank’s stock valued at $1,430,000 after buying an additional 1,653 shares in the last quarter. 51.25% of the stock is owned by institutional investors and hedge funds.

About The First of Long Island Corporation

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.

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