Insider Selling: The First of Long Island Corporation (FLIC) Insider Sells 1,000 Shares of Stock

The First of Long Island Corporation (NASDAQ:FLIC) insider Donald L. Manfredonia sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $27.93, for a total value of $27,930.00. Following the sale, the insider now owns 100,231 shares of the company’s stock, valued at $2,799,451.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of The First of Long Island Corporation (NASDAQ FLIC) traded down 1.78% on Friday, hitting $27.65. The company had a trading volume of 259,039 shares. The First of Long Island Corporation has a 52 week low of $18.60 and a 52 week high of $30.15. The company has a market capitalization of $665.87 million, a price-to-earnings ratio of 20.15 and a beta of 0.82. The stock’s 50-day moving average is $27.65 and its 200 day moving average is $27.48.

The First of Long Island Corporation (NASDAQ:FLIC) last posted its quarterly earnings data on Monday, May 1st. The bank reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $25.78 million during the quarter, compared to the consensus estimate of $24.91 million. The First of Long Island Corporation had a return on equity of 10.40% and a net margin of 27.46%. Equities analysts expect that The First of Long Island Corporation will post $1.51 EPS for the current year.

Insider Buying and Selling by Quarter for The First of Long Island Corporation (NASDAQ:FLIC)

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FLIC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $30.00 price target on shares of The First of Long Island Corporation in a research note on Wednesday, May 3rd. Zacks Investment Research downgraded The First of Long Island Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd.

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of The First of Long Island Corporation by 5.5% in the first quarter. Bank of America Corp DE now owns 16,238 shares of the bank’s stock worth $439,000 after buying an additional 849 shares during the period. American International Group Inc. increased its position in shares of The First of Long Island Corporation by 7.1% in the first quarter. American International Group Inc. now owns 13,157 shares of the bank’s stock worth $356,000 after buying an additional 871 shares during the period. Anchor Capital Advisors LLC increased its position in shares of The First of Long Island Corporation by 2.3% in the first quarter. Anchor Capital Advisors LLC now owns 52,156 shares of the bank’s stock worth $1,411,000 after buying an additional 1,170 shares during the period. Teachers Advisors LLC increased its position in shares of The First of Long Island Corporation by 3.9% in the first quarter. Teachers Advisors LLC now owns 35,283 shares of the bank’s stock worth $954,000 after buying an additional 1,339 shares during the period. Finally, United Asset Strategies Inc. increased its position in shares of The First of Long Island Corporation by 2.4% in the first quarter. United Asset Strategies Inc. now owns 58,545 shares of the bank’s stock worth $1,584,000 after buying an additional 1,349 shares during the period. 51.51% of the stock is owned by hedge funds and other institutional investors.

About The First of Long Island Corporation

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

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