First of Long Island Corp (NASDAQ:FLIC)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.25 and last traded at $21.27, with a volume of 2896 shares changing hands. The stock had previously closed at $21.51.
A number of equities analysts have issued reports on the stock. BidaskClub cut shares of First of Long Island from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th. Zacks Investment Research raised shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, ValuEngine cut shares of First of Long Island from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $30.00.
The stock has a market cap of $552.90 million, a P/E ratio of 13.93 and a beta of 0.61. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.94 and a current ratio of 0.94.
First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Monday, July 30th. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). The company had revenue of $28.56 million during the quarter, compared to the consensus estimate of $28.73 million. First of Long Island had a net margin of 28.08% and a return on equity of 11.05%. Equities analysts predict that First of Long Island Corp will post 1.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Wednesday, October 10th will be given a $0.17 dividend. This is a boost from First of Long Island’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, October 9th. First of Long Island’s payout ratio is currently 45.95%.
In related news, Director John J. Desmond acquired 4,350 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were acquired at an average cost of $22.79 per share, with a total value of $99,136.50. Following the transaction, the director now owns 4,550 shares of the company’s stock, valued at approximately $103,694.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.64% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FLIC. SG Americas Securities LLC acquired a new stake in First of Long Island in the 2nd quarter valued at $106,000. Engineers Gate Manager LP acquired a new stake in First of Long Island in the 2nd quarter valued at $222,000. Mackay Shields LLC acquired a new stake in First of Long Island in the 2nd quarter valued at $295,000. Aperio Group LLC increased its stake in First of Long Island by 42.0% in the 1st quarter. Aperio Group LLC now owns 11,578 shares of the bank’s stock valued at $318,000 after buying an additional 3,425 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in First of Long Island by 51.5% in the 2nd quarter. Bank of America Corp DE now owns 35,773 shares of the bank’s stock valued at $889,000 after buying an additional 12,155 shares during the last quarter. 56.70% of the stock is currently owned by institutional investors and hedge funds.
About First of Long Island (NASDAQ:FLIC)
The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to privately owned 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 personal and non-personal money market and savings products.
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