First of Long Island (NASDAQ:FLIC – Get Free Report) had its price objective lifted by equities researchers at Keefe, Bruyette & Woods from $11.00 to $13.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential downside of 4.20% from the stock’s current price.
Separately, StockNews.com raised shares of First of Long Island from a “sell” rating to a “hold” rating in a report on Saturday.
Check Out Our Latest Report on First of Long Island
First of Long Island Stock Performance
First of Long Island (NASDAQ:FLIC – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $45.41 million during the quarter, compared to the consensus estimate of $20.90 million. First of Long Island had a net margin of 12.58% and a return on equity of 5.96%. During the same quarter in the previous year, the firm posted $0.31 EPS. As a group, equities analysts predict that First of Long Island will post 0.8 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in shares of First of Long Island by 21.7% in the fourth quarter. SG Americas Securities LLC now owns 11,602 shares of the bank’s stock valued at $154,000 after purchasing an additional 2,068 shares during the last quarter. Strs Ohio increased its holdings in First of Long Island by 6.7% during the fourth quarter. Strs Ohio now owns 43,300 shares of the bank’s stock worth $573,000 after buying an additional 2,700 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in First of Long Island during the fourth quarter worth about $134,000. Bailard Inc. purchased a new stake in First of Long Island during the fourth quarter worth about $359,000. Finally, Anchor Capital Advisors LLC increased its holdings in First of Long Island by 156.3% during the fourth quarter. Anchor Capital Advisors LLC now owns 134,455 shares of the bank’s stock worth $1,780,000 after buying an additional 81,999 shares during the last quarter. 48.33% of the stock is owned by 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, 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.
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