Equities analysts expect that First of Long Island Corp (NASDAQ:FLIC) will announce earnings per share of $0.44 for the current quarter, Zacks reports. Two analysts have issued estimates for First of Long Island’s earnings. The highest EPS estimate is $0.45 and the lowest is $0.42. First of Long Island reported earnings of $0.39 per share in the same quarter last year, which would indicate a positive year over year growth rate of 12.8%. The firm is expected to announce its next earnings report on Wednesday, January 29th.
On average, analysts expect that First of Long Island will report full year earnings of $1.73 per share for the current year. For the next year, analysts forecast that the business will report earnings of $1.69 per share, with EPS estimates ranging from $1.65 to $1.73. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for First of Long Island.
First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Wednesday, October 30th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $27.79 million.
Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Zacks Investment Research upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st.
In other First of Long Island news, EVP Mark D. Curtis sold 5,000 shares of the company’s 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 in the company, valued at approximately $1,445,828.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $24.25, for a total transaction of $72,750.00. Following the completion of the transaction, the chief executive officer now owns 106,679 shares of the company’s stock, valued at approximately $2,586,965.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,000 shares of company stock worth $253,890. 4.93% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FLIC. FMR LLC grew its position in First of Long Island by 292,187.5% in the 1st quarter. FMR LLC now owns 46,766 shares of the bank’s stock worth $1,025,000 after purchasing an additional 46,750 shares during the last quarter. FNY Investment Advisers LLC bought a new position in First of Long Island in the 2nd quarter worth about $328,000. Strs Ohio grew its position in First of Long Island by 0.7% in the 2nd quarter. Strs Ohio now owns 132,700 shares of the bank’s stock worth $2,664,000 after purchasing an additional 900 shares during the last quarter. Virginia Retirement Systems ET AL grew its position in First of Long Island by 46.9% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 19,100 shares of the bank’s stock worth $384,000 after purchasing an additional 6,100 shares during the last quarter. Finally, Comerica Bank grew its position in First of Long Island by 13.6% in the 2nd quarter. Comerica Bank now owns 85,009 shares of the bank’s stock worth $1,817,000 after purchasing an additional 10,193 shares during the last quarter. Hedge funds and other institutional investors own 57.20% of the company’s stock.
First of Long Island stock traded up $0.03 during trading on Tuesday, reaching $24.25. 29,600 shares of the company’s stock were exchanged, compared to its average volume of 61,668. The firm has a market cap of $591.61 million, a price-to-earnings ratio of 14.88 and a beta of 0.61. First of Long Island has a 52-week low of $17.53 and a 52-week high of $24.47. The company’s 50-day moving average is $23.07 and its two-hundred day moving average is $22.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.95 and a current ratio of 0.95.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Wednesday, October 9th were paid a dividend of $0.18 per share. This is a positive change from First of Long Island’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $0.72 annualized dividend and a yield of 2.97%. First of Long Island’s dividend payout ratio is 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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