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

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

Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of The First of Long Island Corporation from a hold rating to a sell rating in a report on Wednesday, July 19th. ValuEngine raised shares of The First of Long Island Corporation from a hold rating to a buy rating in a report on Friday, September 1st.

Shares of The First of Long Island Corporation (NASDAQ FLIC) traded up 0.95% during trading on Thursday, hitting $26.55. 37,723 shares of the stock were exchanged. The firm has a market capitalization of $647.34 million, a price-to-earnings ratio of 18.94 and a beta of 0.79. The stock’s 50 day moving average price is $27.37 and its 200 day moving average price is $27.41. The First of Long Island Corporation has a 52 week low of $25.08 and a 52 week high of $40.40.

The First of Long Island Corporation (NASDAQ:FLIC) last released its 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 First of Long Island Corporation had a net margin of 28.29% and a return on equity of 10.68%. The company had revenue of $26.14 million for the quarter, compared to analyst estimates of $25.86 million. On average, equities analysts predict that The First of Long Island Corporation will post $1.51 earnings per share for the current year.

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In related 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 owns 99,006 shares of the company’s stock, valued at approximately $2,653,360.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Donald L. Manfredonia sold 1,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $29.93, for a total transaction of $29,930.00. Following the transaction, the insider now directly owns 97,231 shares in the company, valued at approximately $2,910,123.83. The disclosure for this sale can be found here. 4.83% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. grew its holdings in The First of Long Island Corporation by 11.0% in the 2nd quarter. Wasatch Advisors Inc. now owns 548,336 shares of the bank’s stock worth $15,682,000 after acquiring an additional 54,423 shares during the last quarter. State Street Corp grew its holdings in The First of Long Island Corporation by 6.4% in the 2nd quarter. State Street Corp now owns 402,592 shares of the bank’s stock worth $11,513,000 after acquiring an additional 24,051 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in The First of Long Island Corporation by 17.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 741,182 shares of the bank’s stock worth $21,198,000 after acquiring an additional 111,227 shares during the last quarter. Voya Investment Management LLC grew its holdings in The First of Long Island Corporation by 17.3% in the 2nd quarter. Voya Investment Management LLC now owns 11,021 shares of the bank’s stock worth $315,000 after acquiring an additional 1,628 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in The First of Long Island Corporation by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 368,488 shares of the bank’s stock worth $10,539,000 after acquiring an additional 59,491 shares during the last quarter. 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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