Zacks Investment Research lowered shares of The First of Long Island Corporation (NASDAQ:FLIC) from a buy rating to a hold rating in a report published on Monday.

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

Several other research analysts have also issued reports on FLIC. Keefe, Bruyette & Woods reiterated a hold rating and issued a $30.00 price target on shares of The First of Long Island Corporation in a research note on Wednesday, May 3rd. BidaskClub upgraded shares of The First of Long Island Corporation from a sell rating to a hold rating in a research note on Wednesday, July 12th.

The First of Long Island Corporation (FLIC) traded up 0.93% on Monday, reaching $27.00. 9,051 shares of the company traded hands. The stock’s 50 day moving average price is $27.49 and its 200 day moving average price is $27.46. The First of Long Island Corporation has a one year low of $20.99 and a one year high of $30.15. 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 results on Friday, July 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The company had revenue of $26.14 million during the quarter, compared to analyst estimates of $25.86 million. The First of Long Island Corporation had a net margin of 28.29% and a return on equity of 10.68%. On average, equities research analysts predict that The First of Long Island Corporation will post $1.51 EPS for the current fiscal year.

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In related news, insider Donald L. Manfredonia sold 2,000 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $28.71, for a total transaction of $57,420.00. Following the sale, the insider now directly owns 99,731 shares of the company’s stock, valued at approximately $2,863,277.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald L. Manfredonia sold 1,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $27.93, for a total transaction of $27,930.00. Following the sale, the insider now directly owns 100,231 shares in the company, valued at $2,799,451.83. The disclosure for this sale can be found here. Insiders have sold a total of 4,000 shares of company stock worth $115,280 over the last three months. 4.83% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in FLIC. Nordea Investment Management AB purchased a new stake in shares of The First of Long Island Corporation during the first quarter valued at approximately $108,000. Tower Research Capital LLC TRC increased its stake in shares of The First of Long Island Corporation by 3,563.7% in the first quarter. Tower Research Capital LLC TRC now owns 4,140 shares of the bank’s stock valued at $112,000 after buying an additional 4,027 shares during the period. SG Americas Securities LLC purchased a new stake in shares of The First of Long Island Corporation during the first quarter valued at approximately $163,000. Legal & General Group Plc increased its stake in shares of The First of Long Island Corporation by 12.3% in the second quarter. Legal & General Group Plc now owns 5,752 shares of the bank’s stock valued at $164,000 after buying an additional 630 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of The First of Long Island Corporation during the second quarter valued at approximately $204,000. 51.79% of the stock is currently owned by institutional investors.

The First of Long Island Corporation 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.

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