BidaskClub upgraded shares of First of Long Island (NASDAQ:FLIC) from a sell rating to a hold rating in a report issued on Saturday, BidAskClub reports.

FLIC has been the subject of a number of other reports. Zacks Investment Research lowered First of Long Island from a hold rating to a sell rating in a research note on Wednesday, May 27th. Piper Sandler raised First of Long Island from a neutral rating to an overweight rating and raised their price objective for the company from $16.00 to $19.00 in a research note on Tuesday, May 5th. ValuEngine lowered First of Long Island from a hold rating to a sell rating in a research note on Friday, April 3rd. Finally, TheStreet lowered First of Long Island from a b- rating to a c+ rating in a research note on Friday, March 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. First of Long Island currently has a consensus rating of Hold and a consensus target price of $17.50.

Shares of First of Long Island stock opened at $16.34 on Friday. The stock has a 50 day moving average of $15.44 and a 200 day moving average of $18.94. First of Long Island has a 12 month low of $12.15 and a 12 month high of $25.53. The firm has a market cap of $390.35 million, a PE ratio of 10.02 and a beta of 0.50. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Thursday, April 30th. The bank reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). First of Long Island had a net margin of 25.99% and a return on equity of 10.84%. The firm had revenue of $28.00 million for the quarter, compared to the consensus estimate of $27.75 million. As a group, equities research analysts forecast that First of Long Island will post 1.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Thursday, July 9th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Wednesday, July 8th. First of Long Island’s payout ratio is 41.14%.

In related news, Director Milbrey Rennie Taylor sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $17.55, for a total transaction of $35,100.00. Insiders sold a total of 4,000 shares of company stock valued at $69,280 over the last ninety days. Corporate insiders own 5.35% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. FinTrust Capital Advisors LLC bought a new stake in shares of First of Long Island during the 1st quarter worth approximately $29,000. Great West Life Assurance Co. Can bought a new stake in shares of First of Long Island during the 4th quarter worth approximately $77,000. First Quadrant L P CA bought a new stake in shares of First of Long Island during the 1st quarter worth approximately $103,000. Advisor Group Holdings Inc. bought a new stake in shares of First of Long Island during the 1st quarter worth approximately $112,000. Finally, Victory Capital Management Inc. increased its holdings in First of Long Island by 18.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,958 shares of the bank’s stock worth $124,000 after purchasing an additional 788 shares during the period. 56.58% of the stock is 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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