Stock Worth Mentioning Today: First of Long Island Corp Draws Bearish Focus After Its Gap Down Today

Stock Worth Mentioning Today: First of Long Island Corp Draws Bearish Focus After Its Gap Down Today

The stock of First of Long Island Corp (NASDAQ:FLIC) gapped down by $0.06 today and has $30.40 target or 6.00% below today’s $32.34 share price. The 6 months technical chart setup indicates high risk for the $512.96M company. The gap down was reported on Oct, 4 by Barchart.com. If the $30.40 price target is reached, the company will be worth $30.78 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.82% or $0.6 during the last trading session, hitting $32.34. About 20,658 shares traded hands. First of Long Island Corp (NASDAQ:FLIC) has risen 15.25% since March 1, 2016 and is uptrending. It has outperformed by 3.04% the S&P500.

Analysts await First of Long Island Corp (NASDAQ:FLIC) to report earnings on November, 4. They expect $0.51 EPS, up 10.87% or $0.05 from last year’s $0.46 per share. FLIC’s profit will be $8.09M for 15.85 P/E if the $0.51 EPS becomes a reality. After $0.50 actual EPS reported by First of Long Island Corp for the previous quarter, Wall Street now forecasts 2.00% EPS growth.

First of Long Island Corp (NASDAQ:FLIC) Ratings Coverage

Out of 4 analysts covering First of Long Island (NASDAQ:FLIC), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. First of Long Island has been the topic of 6 analyst reports since August 4, 2015 according to StockzIntelligence Inc. On Tuesday, August 25 the stock rating was upgraded by Raymond James to “Mkt Perform”. On Wednesday, August 17 the stock rating was maintained by Wood with “Market Perform”. The stock of First of Long Island Corp (NASDAQ:FLIC) earned “Market Perform” rating by Raymond James on Monday, May 2.

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

Insitutional Activity: The institutional sentiment increased to 2.7 in Q2 2016. Its up 1.42, from 1.28 in 2016Q1. The ratio improved, as 2 funds sold all First of Long Island Corp shares owned while 18 reduced positions. 11 funds bought stakes while 43 increased positions. They now own 7.46 million shares or 20.32% more from 6.20 million shares in 2016Q1.
National Bank & Trust Of New York Mellon Corporation accumulated 52,523 shares or 0% of the stock. State Street Corporation has invested 0% of its portfolio in First of Long Island Corp (NASDAQ:FLIC). Neuberger Berman Gru Lc accumulated 0% or 13,395 shares. Moreover, Bridgeway Capital Mgmt has 0.01% invested in First of Long Island Corp (NASDAQ:FLIC) for 30,150 shares. Boston accumulated 83,040 shares or 0% of the stock. Morgan Dempsey Cap Mgmt Limited Com owns 67,510 shares or 0.66% of their US portfolio. Moreover, National Bank Of Montreal Can has 0% invested in First of Long Island Corp (NASDAQ:FLIC) for 389 shares. The Ontario – Canada-based Manufacturers Life Insur The has invested 0.01% in First of Long Island Corp (NASDAQ:FLIC). Blackrock Institutional Company Na has invested 0% of its portfolio in First of Long Island Corp (NASDAQ:FLIC). Tiaa Cref Inv Mngmt Ltd holds 54,290 shares or 0% of its portfolio. Teacher Retirement Sys Of Texas owns 1,966 shares or 0% of their US portfolio. Diamond Hill Cap Mgmt Inc holds 0.06% of its portfolio in First of Long Island Corp (NASDAQ:FLIC) for 335,771 shares. The New Jersey-based Bessemer Group Inc Inc has invested 0% in First of Long Island Corp (NASDAQ:FLIC). Pnc Financial Svcs Grp Inc Inc holds 0% or 87 shares in its portfolio. Bnp Paribas Arbitrage owns 556 shares or 0% of their US portfolio.

Insider Transactions: Since May 10, 2016, the stock had 2 insider purchases, and 3 insider sales for $359,114 net activity. On Wednesday, August 31 VITTORIO MICHAEL N sold $133,182 worth of the stock or 4,066 shares. $580,000 worth of First of Long Island Corp (NASDAQ:FLIC) shares were bought by QUICK PETER. 5,000 shares were bought by CANARICK PAUL T, worth $145,000 on Tuesday, May 10. Shares for $114,054 were sold by BALLWEG SALLYANNE K.

More notable recent First of Long Island Corp (NASDAQ:FLIC) news were published by: Reuters.com which released: “BRIEF-The First of Long Island Corp posts Q2 EPS of $0.50” on July 28, 2016, also Reuters.com with their article: “BRIEF-The First Of Long Island Corp declares dividend of $0.21/share” published on September 21, 2016, Globenewswire.com published: “The First of Long Island Corporation Announces the Election of John J. Desmond …” on September 22, 2016. More interesting news about First of Long Island Corp (NASDAQ:FLIC) were released by: Nasdaq.com and their article: “The First of Long Island Corporation (FLIC) Ex-Dividend Date Scheduled for …” published on September 30, 2016 as well as Globenewswire.com‘s news article titled: “The First of Long Island Corporation Announces Increase in Quarterly Cash …” with publication date: September 21, 2016.

FLIC Company Profile

The First of Long Island Corporation, incorporated on February 8, 1984, is a one-bank holding company. The Firm provides financial services through its subsidiary, The First National Bank of Long Island (the Bank). The Company’s 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. The Bank serves the financial needs of privately owned businesses, professionals, consumers, public bodies and other organizations in Nassau and Suffolk Counties, Long Island, New York.

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