Analysts expect First of Long Island Corp (NASDAQ:FLIC) to report $27.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for First of Long Island’s earnings, with estimates ranging from $27.42 million to $27.70 million. First of Long Island posted sales of $24.71 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, January 29th.
On average, analysts expect that First of Long Island will report full year sales of $110.99 million for the current year, with estimates ranging from $110.88 million to $111.10 million. For the next year, analysts anticipate that the company will post sales of $111.15 million, with estimates ranging from $111.10 million to $111.19 million. Zacks’ sales averages are an average based on a survey of analysts that follow First of Long Island.
First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings results on Wednesday, October 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. First of Long Island had a net margin of 28.03% and a return on equity of 10.92%. The company had revenue of $27.61 million during the quarter, compared to the consensus estimate of $27.79 million.
Several brokerages recently commented on FLIC. Zacks Investment Research upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. BidaskClub raised shares of First of Long Island from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th.
In other news, EVP Mark D. Curtis sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $23.55, for a total value of $117,750.00. Following the completion of the transaction, the executive vice president now owns 61,394 shares of the company’s stock, valued at $1,445,828.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael N. Vittorio sold 3,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $21.13, for a total transaction of $63,390.00. Following the completion of the transaction, the insider now directly owns 109,679 shares of the company’s stock, valued at approximately $2,317,517.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,000 shares of company stock worth $253,890. Corporate insiders own 4.93% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in First of Long Island by 292,187.5% during the 1st quarter. FMR LLC now owns 46,766 shares of the bank’s stock valued at $1,025,000 after acquiring an additional 46,750 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in First of Long Island in the second quarter worth $328,000. Strs Ohio grew its stake in shares of First of Long Island by 0.7% in the second quarter. Strs Ohio now owns 132,700 shares of the bank’s stock worth $2,664,000 after acquiring an additional 900 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in shares of First of Long Island by 46.9% in the second quarter. Virginia Retirement Systems ET AL now owns 19,100 shares of the bank’s stock worth $384,000 after acquiring an additional 6,100 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of First of Long Island by 13.6% during the second quarter. Comerica Bank now owns 85,009 shares of the bank’s stock valued at $1,817,000 after purchasing an additional 10,193 shares in the last quarter. Institutional investors own 57.20% of the company’s stock.
Shares of NASDAQ FLIC traded up $0.03 during trading on Thursday, hitting $24.25. 29,600 shares of the company traded hands, compared to its average volume of 61,668. The company has a 50-day moving average price of $23.07 and a 200-day moving average price of $22.22. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $591.61 million, a P/E ratio of 14.88 and a beta of 0.61. First of Long Island has a 1 year low of $17.53 and a 1 year high of $24.47.
The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Wednesday, October 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.97%. This is an increase from First of Long Island’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, October 8th. First of Long Island’s payout ratio is presently 44.17%.
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, 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 money market products.
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