First of Long Island (FLIC) Releases Quarterly Earnings Results

First of Long Island (NASDAQ:FLIC) announced its earnings results on Tuesday. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.17, Fidelity Earnings reports. First of Long Island had a return on equity of 11.10% and a net margin of 28.61%. The company had revenue of $23.07 million for the quarter, compared to the consensus estimate of $28.29 million.

FLIC opened at $20.21 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $510.20 million, a PE ratio of 13.66 and a beta of 0.61. First of Long Island has a 12 month low of $19.09 and a 12 month high of $32.20.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Wednesday, October 10th were issued a $0.17 dividend. This is a boost from First of Long Island’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, October 9th. First of Long Island’s dividend payout ratio (DPR) is currently 45.95%.

An institutional investor recently raised its position in First of Long Island stock. Bank of New York Mellon Corp grew its holdings in First of Long Island Corp (NASDAQ:FLIC) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,678 shares of the bank’s stock after buying an additional 3,735 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of First of Long Island worth $3,371,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 56.77% of the company’s stock.

FLIC has been the topic of several analyst reports. Zacks Investment Research upgraded First of Long Island from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. BidaskClub raised First of Long Island from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, ValuEngine cut First of Long Island from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $30.00.

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 privately owned businesses, professionals, consumers, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as personal and non-personal money market and savings products.

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Earnings History for First of Long Island (NASDAQ:FLIC)

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