Analysts Expect First of Long Island Corp (NASDAQ:FLIC) to Announce $0.43 Earnings Per Share

Shares of First of Long Island Corp (NASDAQ:FLIC) have received an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.

Zacks has also assigned First of Long Island an industry rank of 174 out of 256 based on the ratings given to its competitors.

Several brokerages have recently weighed in on FLIC. Boenning Scattergood reissued a “hold” rating on shares of First of Long Island in a research report on Thursday, May 2nd. Zacks Investment Research lowered First of Long Island from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. ValuEngine lowered First of Long Island from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Finally, BidaskClub lowered First of Long Island from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd.

FLIC stock opened at $20.08 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.99. The firm has a market cap of $500.01 million, a price-to-earnings ratio of 12.32 and a beta of 0.73. The firm has a 50-day moving average of $21.65. First of Long Island has a 1 year low of $17.53 and a 1 year high of $25.85.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Tuesday, April 30th. The bank reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). First of Long Island had a return on equity of 10.80% and a net margin of 28.70%. The business had revenue of $27.85 million for the quarter, compared to analyst estimates of $28.65 million. On average, equities analysts anticipate that First of Long Island will post 1.74 earnings per share for the current fiscal year.

In other news, CEO Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $22.60, for a total transaction of $67,800.00. Following the sale, the chief executive officer now owns 112,679 shares of the company’s stock, valued at approximately $2,546,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.93% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in FLIC. Basswood Capital Management L.L.C. grew its stake in First of Long Island by 101.1% during the 4th quarter. Basswood Capital Management L.L.C. now owns 488,568 shares of the bank’s stock worth $9,747,000 after buying an additional 245,625 shares during the last quarter. ClariVest Asset Management LLC grew its stake in First of Long Island by 1,271.9% during the 1st quarter. ClariVest Asset Management LLC now owns 91,385 shares of the bank’s stock worth $2,003,000 after buying an additional 84,724 shares during the last quarter. John W. Rosenthal Capital Management Inc. grew its stake in First of Long Island by 82.5% during the 1st quarter. John W. Rosenthal Capital Management Inc. now owns 169,229 shares of the bank’s stock worth $3,711,000 after buying an additional 76,500 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in First of Long Island by 9.1% during the 4th 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 during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in First of Long Island by 11.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 582,753 shares of the bank’s stock worth $12,780,000 after buying an additional 58,910 shares during the last quarter. Hedge funds and other institutional investors own 54.54% of the company’s stock.

First of Long Island Company Profile

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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