The First of Long Island Co. (NASDAQ:FLIC) Director John Abbott Root Cooper Sells 166,633 Shares of Stock

The First of Long Island Co. (NASDAQ:FLIC) Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now directly owns 3,453 shares in the company, valued at $43,853.10. The sale was disclosed in a document filed with the SEC, which is available at this link.

First of Long Island Stock Performance

NASDAQ:FLIC opened at $12.74 on Friday. The company has a market cap of $286.85 million, a P/E ratio of 11.80 and a beta of 0.69. The First of Long Island Co. has a twelve month low of $9.30 and a twelve month high of $13.95. The company’s 50-day moving average price is $11.96 and its 200-day moving average price is $10.93. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14.

First of Long Island (NASDAQ:FLIC) last released its earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $45.41 million for the quarter, compared to analyst estimates of $20.90 million. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. During the same period last year, the company posted $0.31 EPS. On average, sell-side analysts forecast that The First of Long Island Co. will post 0.87 earnings per share for the current fiscal year.

First of Long Island Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend was Wednesday, July 10th. First of Long Island’s payout ratio is currently 77.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FLIC shares. StockNews.com raised First of Long Island from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. Keefe, Bruyette & Woods increased their price objective on First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Institutional Trading of First of Long Island

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of First of Long Island by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after acquiring an additional 8,109 shares during the last quarter. ProShare Advisors LLC boosted its holdings in First of Long Island by 8.2% in the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after purchasing an additional 51,872 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in First of Long Island by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock valued at $6,079,000 after purchasing an additional 10,400 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of First of Long Island by 272.6% in the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after buying an additional 321,032 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of First of Long Island by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock worth $3,522,000 after buying an additional 51,792 shares during the last quarter. 48.33% of the stock is owned by institutional investors and hedge funds.

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, municipalities, and other organizations. The company offers business and small business checking, personal checking, negotiable order of withdrawal, interest on lawyer, escrow service, rent security, personal and nonpersonal money market, savings, time deposit, and individual retirement accounts.