Equities analysts expect First of Long Island Corp (NASDAQ:FLIC) to announce earnings of $0.44 per share for the current quarter, Zacks reports. Two analysts have provided 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 posted earnings of $0.39 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 12.8%. The business is scheduled to announce its next quarterly 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 fiscal year. For the next fiscal year, analysts forecast that the business will report earnings of $1.74 per share, with EPS estimates ranging from $1.65 to $1.83. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover First of Long Island.
First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Wednesday, October 30th. The bank reported $0.44 EPS for the quarter, topping the Thomson Reuters’ 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 10.93%. The company had revenue of $27.61 million during the quarter, compared to the consensus estimate of $27.79 million.
NASDAQ:FLIC traded down $0.15 during trading hours on Monday, reaching $23.88. The company’s stock had a trading volume of 38,162 shares, compared to its average volume of 40,437. The firm has a market capitalization of $664.19 million, a price-to-earnings ratio of 14.22 and a beta of 0.65. The firm has a 50-day simple moving average of $24.50 and a 200-day simple moving average of $23.04. First of Long Island has a 1 year low of $20.05 and a 1 year high of $25.53. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.95 and a current ratio of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 20th. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, January 7th. This represents a $0.72 dividend on an annualized basis and a yield of 3.02%. First of Long Island’s dividend payout ratio is currently 44.17%.
In other First of Long Island news, EVP Mark D. Curtis sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $23.55, for a total transaction of $117,750.00. Following the completion of the sale, the executive vice president now directly owns 61,394 shares of the company’s stock, valued at $1,445,828.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $24.25, for a total transaction of $72,750.00. Following the sale, the chief executive officer now directly owns 106,679 shares of the company’s stock, valued at $2,586,965.75. The disclosure for this sale can be found here. 4.93% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in FLIC. Vanguard Group Inc. boosted its position in shares of First of Long Island by 0.7% in the second quarter. Vanguard Group Inc. now owns 1,097,778 shares of the bank’s stock worth $22,043,000 after purchasing an additional 7,130 shares during the period. Renaissance Technologies LLC boosted its position in shares of First of Long Island by 4.7% in the second quarter. Renaissance Technologies LLC now owns 701,681 shares of the bank’s stock worth $14,090,000 after purchasing an additional 31,500 shares during the period. Northern Trust Corp boosted its position in shares of First of Long Island by 2.7% in the second quarter. Northern Trust Corp now owns 330,686 shares of the bank’s stock worth $6,640,000 after purchasing an additional 8,831 shares during the period. Millennium Management LLC boosted its position in shares of First of Long Island by 1,428.0% in the third quarter. Millennium Management LLC now owns 237,885 shares of the bank’s stock worth $5,411,000 after purchasing an additional 222,317 shares during the period. Finally, Chilton Investment Co. LLC boosted its position in shares of First of Long Island by 15.9% in the third quarter. Chilton Investment Co. LLC now owns 129,615 shares of the bank’s stock worth $2,949,000 after purchasing an additional 17,824 shares during the period. 48.67% of the stock is owned by institutional investors and hedge funds.
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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