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 Tuesday. They currently have $30.00 price objective on the bank’s stock.

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

Several other analysts have also commented on FLIC. BidaskClub upgraded shares of The First of Long Island Corporation from a sell rating to a hold rating in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods restated a hold rating and set a $30.00 price target 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 (NASDAQ FLIC) opened at 27.00 on Tuesday. The company has a market cap of $658.31 million, a P/E ratio of 19.26 and a beta of 0.79. The firm has a 50-day moving average of $27.47 and a 200-day moving average of $27.46. The First of Long Island Corporation has a 52-week low of $20.99 and a 52-week high of $30.15.

The First of Long Island Corporation (NASDAQ:FLIC) last released its quarterly earnings results on Friday, July 28th. The bank reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The company had revenue of $26.14 million for 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%. Equities research analysts forecast that The First of Long Island Corporation will post $1.51 earnings per share for the current year.

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In other The First of Long Island Corporation news, insider Michael N. Vittorio sold 3,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $26.80, for a total transaction of $80,400.00. Following the transaction, the insider now directly owns 99,006 shares of the company’s stock, valued at $2,653,360.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Donald L. Manfredonia sold 1,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $27.93, for a total transaction of $27,930.00. Following the transaction, 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. In the last 90 days, insiders have sold 7,000 shares of company stock worth $195,680. 4.83% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of FLIC. Franklin Resources Inc. increased its position in The First of Long Island Corporation by 73.1% in the second quarter. Franklin Resources Inc. now owns 1,617,800 shares of the bank’s stock valued at $46,269,000 after buying an additional 683,135 shares during the last quarter. Strs Ohio bought a new position in The First of Long Island Corporation during the first quarter valued at about $3,246,000. Goldman Sachs Group Inc. increased its position in The First of Long Island Corporation by 17.7% in the second quarter. Goldman Sachs Group Inc. now owns 741,182 shares of the bank’s stock valued at $21,198,000 after buying an additional 111,227 shares during the last quarter. Vanguard Group Inc. increased its position in The First of Long Island Corporation by 9.9% in the first quarter. Vanguard Group Inc. now owns 925,313 shares of the bank’s stock valued at $25,030,000 after buying an additional 83,555 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in The First of Long Island Corporation by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 368,488 shares of the bank’s stock valued at $10,539,000 after buying an additional 59,491 shares during the last quarter. 51.79% of the stock is currently 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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