Trade Report: Today, The First of Long Island Corp. (FLIC) Upgraded to “Hold” at The Zacks Investment Research

Today, The First of Long Island Corp. (FLIC) Upgraded to “Hold” at The Zacks Investment Research

Zacks Investment Research upgraded shares of The First of Long Island Corp. (NASDAQ:FLIC) from a sell rating to a hold rating in a research report report published on Monday morning.

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

FLIC has been the subject of a number of other reports. Raymond James Financial Inc. raised shares of The First of Long Island Corp. from a market perform rating to an outperform rating and set a $28.00 price target for the company in a research note on Thursday, August 25th. Keefe, Bruyette & Woods increased their price target on shares of The First of Long Island Corp. from $31.00 to $32.50 and gave the stock a market perform rating in a research note on Wednesday, August 17th.

The First of Long Island Corp. (NASDAQ:FLIC) opened at 38.65 on Monday. The First of Long Island Corp. has a 52-week low of $26.14 and a 52-week high of $40.40. The firm’s 50 day moving average is $34.09 and its 200 day moving average is $31.63. The company has a market cap of $610.28 million, a PE ratio of 19.41 and a beta of 0.63. The First of Long Island Corp. shares are scheduled to split on the morning of Tuesday, November 29th. The 3-2 split was announced on Thursday, October 27th. The newly minted shares will be payable to shareholders after the closing bell on Monday, November 28th.

In other The First of Long Island Corp. news, insider Richard Kick sold 1,600 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $32.25, for a total value of $51,600.00. Following the sale, the insider now owns 56,905 shares in the company, valued at $1,835,186.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael N. Vittorio sold 3,634 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $32.65, for a total transaction of $118,650.10. Following the completion of the sale, the chief executive officer now owns 65,113 shares in the company, valued at approximately $2,125,939.45. The disclosure for this sale can be found here. 6.18% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of The First of Long Island Corp. by 19.2% in the second quarter. Bank of New York Mellon Corp now owns 52,523 shares of the company’s stock worth $1,506,000 after buying an additional 8,451 shares during the period. Hilton Capital Management LLC boosted its stake in shares of The First of Long Island Corp. by 22.6% in the second quarter. Hilton Capital Management LLC now owns 221,675 shares of the company’s stock worth $6,355,000 after buying an additional 40,848 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in shares of The First of Long Island Corp. by 11.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 13,449 shares of the company’s stock worth $383,000 after buying an additional 1,433 shares during the period. Anchor Capital Advisors LLC boosted its stake in shares of The First of Long Island Corp. by 0.7% in the second quarter. Anchor Capital Advisors LLC now owns 35,088 shares of the company’s stock worth $1,006,000 after buying an additional 228 shares during the period. Finally, Highlander Capital Management LLC boosted its stake in shares of The First of Long Island Corp. by 55.9% in the second quarter. Highlander Capital Management LLC now owns 17,289 shares of the company’s stock worth $496,000 after buying an additional 6,199 shares during the period. Institutional investors and hedge funds own 47.32% of the company’s stock.

About The First of Long Island Corp.

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-in banking, merchant credit card services, and investment management and trust services.

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