FLIC: First of Long Island Corporation (The) Common Stock – Unpacking the Merger & What's Next

Stock Symbol: FLIC Generate Date: 2025-06-03 15:00:51

Alright, let's break down what's happening with First of Long Island Corporation, or FLIC. We've got some fresh news, a look at how the stock's been moving, and what the AI model is hinting at for the near future.

Recent News Buzz: The Merger's Done Deal

The big news just dropped yesterday, June 2nd: ConnectOne Bancorp, Inc. officially completed its merger with First of Long Island Corporation. This is a pretty significant event. When a merger like this goes through, it usually means FLIC, as a standalone entity, is no longer trading. Instead, its shares would typically be converted into shares of the acquiring company (ConnectOne Bancorp, CNOB) or cash, based on the merger agreement terms.

So, the "vibe" here is less about FLIC's ongoing operations and more about the finality of this corporate action. For existing FLIC shareholders, the focus shifts to the terms of the merger and what they now hold in CNOB, or the cash they received.

Price Check: A Look Back at FLIC's Journey

Looking at the past few months, FLIC's stock has seen its ups and downs. Back in early March, it was trading around $13.00. We saw a dip through March and into early April, hitting lows around $10.50. Then, it started a gradual climb back up, reaching into the $12.00 range by early May, even touching $12.80 mid-May. The last recorded price on May 30th was $11.87, with a notable spike in volume that day.

Given the news of the merger completion, the historical price action for FLIC itself becomes less relevant for future trading of FLIC shares, as the company has now merged. The previous close was $11.84.

Outlook & Ideas: What This Means for Investors

Here's the crucial part: with the merger completed, FLIC as a separate stock is effectively gone. The news isn't about future performance of FLIC, but rather the finalization of its acquisition.

What does this mean for investors who held FLIC?

• Conversion: Your FLIC shares have likely been converted into shares of ConnectOne Bancorp (CNOB) or a cash equivalent, according to the merger agreement. You'll need to check the specific terms of the merger to understand what you now own or have received.
• Trading Focus Shifts: If you're interested in the combined entity, your attention should now turn to CNOB's stock performance.
• AI Predictions for FLIC: The AI model's predictions for FLIC's price changes (Today: -0.21%, Next Day: 0.75%, Day after next: 0.11%) and its target price of $13.65 are likely based on pre-merger data and assumptions. Since the merger is complete, these predictions for FLIC itself are no longer directly applicable for trading FLIC shares. The stock's trading activity will cease or reflect the conversion process.

So, what's the apparent near-term leaning? For FLIC itself, the leaning is towards cessation of trading as a distinct entity. There's no "buy," "sell," or "hold" for FLIC shares in the traditional sense post-merger.

Potential Entry/Exit Considerations (for CNOB, if applicable): Any investment decision would now revolve around ConnectOne Bancorp (CNOB). You'd need to analyze CNOB's fundamentals, technicals, and future outlook. The AI's bullish sentiment and technical indicators (like the MACD golden cross, strong buying pressure, and DMI positive) were for FLIC before the merger completed. While some of the underlying banking sector dynamics might carry over, these specific technical signals are for FLIC's past trading.

Company Context: A Regional Bank Story Concludes

First of Long Island Corporation was a regional bank, providing financial services to businesses and consumers primarily in the New York area. It had a full-time employee count of 265, a market cap of around $269 million, and operated in the "Banks - Regional" sector. Its P/E ratio was around 9.89.

The merger with ConnectOne Bancorp means that FLIC's operations are now integrated into a larger banking structure. This move often aims for increased scale, efficiency, and market reach for the combined entity. For investors, it's a reminder that smaller regional banks can often be acquisition targets, leading to such corporate actions.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. The completion of the merger means FLIC shares are no longer trading as a standalone entity. Investors should always conduct their own thorough research and consult with a qualified financial professional before making any investment decisions. Past performance, and especially pre-merger data, is not indicative of future results.