John W. Rosenthal Capital Management Inc. increased its stake in shares of The First of Long Island Corporation (NASDAQ:FLIC) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,827 shares of the bank’s stock after buying an additional 8,069 shares during the period. The First of Long Island Corporation makes up about 5.8% of John W. Rosenthal Capital Management Inc.’s investment portfolio, making the stock its 2nd largest position. John W. Rosenthal Capital Management Inc. owned approximately 1.01% of The First of Long Island Corporation worth $6,945,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. ClariVest Asset Management LLC raised its position in The First of Long Island Corporation by 80.5% in the first quarter. ClariVest Asset Management LLC now owns 14,299 shares of the bank’s stock valued at $387,000 after buying an additional 6,376 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of The First of Long Island Corporation by 22.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 53,231 shares of the bank’s stock worth $1,439,000 after buying an additional 9,900 shares in the last quarter. American International Group Inc. raised its position in shares of The First of Long Island Corporation by 7.1% in the first quarter. American International Group Inc. now owns 13,157 shares of the bank’s stock worth $356,000 after buying an additional 871 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of The First of Long Island Corporation during the first quarter worth $163,000. Finally, Nordea Investment Management AB acquired a new position in shares of The First of Long Island Corporation during the first quarter worth $108,000. Institutional investors own 51.79% of the company’s stock.

Shares of The First of Long Island Corporation (NASDAQ:FLIC) traded down 0.56% during trading on Monday, reaching $26.85. 3,202 shares of the company’s stock were exchanged. The firm has a market cap of $654.66 million, a price-to-earnings ratio of 19.15 and a beta of 0.78. The stock has a 50-day moving average price of $27.65 and a 200 day moving average price of $27.47. The First of Long Island Corporation has a 12 month low of $20.99 and a 12 month high of $30.15.

The First of Long Island Corporation (NASDAQ:FLIC) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $26.14 million during the quarter, compared to analysts’ expectations of $25.86 million. On average, analysts forecast that The First of Long Island Corporation will post $1.51 EPS for the current year.

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A number of equities analysts have weighed in on FLIC shares. BidaskClub lowered shares of 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 reiterated a “hold” rating and set a $30.00 target price on shares of The First of Long Island Corporation in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research lowered shares of The First of Long Island Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd.

In related news, insider Donald L. Manfredonia sold 1,000 shares of The First of Long Island Corporation stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $27.93, for a total transaction of $27,930.00. Following the completion of the transaction, the insider now directly owns 100,231 shares in the company, valued at $2,799,451.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald L. Manfredonia sold 2,000 shares of The First of Long Island Corporation stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $28.71, for a total value of $57,420.00. Following the transaction, the insider now owns 99,731 shares of the company’s stock, valued at $2,863,277.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,843 shares of company stock valued at $303,668. Company insiders own 4.83% of the company’s stock.

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.

Institutional Ownership by Quarter for The First of Long Island Corporation (NASDAQ:FLIC)

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