Zacks Investment Research lowered shares of First of Long Island (NASDAQ:FLIC) from a hold rating to a sell rating in a report published on Friday, Zacks.com reports.

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 upgraded shares of First of Long Island from a hold rating to a buy rating in a research report on Friday, February 22nd. Boenning Scattergood started coverage on shares of First of Long Island in a research report on Monday, April 1st. They set a neutral rating for the company. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of Hold and a consensus target price of $25.50.

Shares of NASDAQ:FLIC opened at $22.67 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $574.43 million, a price-to-earnings ratio of 13.91 and a beta of 0.68. First of Long Island has a twelve month low of $17.53 and a twelve month high of $28.50.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Wednesday, January 30th. The bank reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). The business had revenue of $24.71 million for the quarter, compared to the consensus estimate of $28.51 million. First of Long Island had a return on equity of 11.06% and a net margin of 29.59%. Analysts predict that First of Long Island will post 1.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.17 per share. The ex-dividend date was Monday, March 11th. This represents a $0.68 dividend on an annualized basis and a yield of 3.00%. First of Long Island’s dividend payout ratio is presently 41.72%.

In other First of Long Island news, insider Michael N. Vittorio sold 3,000 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $21.12, for a total transaction of $63,360.00. Following the completion of the transaction, the insider now owns 115,679 shares in the company, valued at $2,443,140.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.93% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of First of Long Island by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 268,758 shares of the bank’s stock worth $5,361,000 after buying an additional 21,704 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First of Long Island by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 732,545 shares of the bank’s stock worth $14,614,000 after buying an additional 61,242 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of First of Long Island by 20.4% in the fourth quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock worth $97,000 after buying an additional 817 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of First of Long Island by 344.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,853 shares of the bank’s stock worth $157,000 after buying an additional 6,085 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in shares of First of Long Island in the fourth quarter worth about $766,000. 56.18% of the stock is currently owned by hedge funds and other institutional investors.

About First of Long Island

The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to small and medium-sized businesses, professionals, consumers, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market products.

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