First of Long Island Corp (NASDAQ:FLIC) Expected to Announce Quarterly Sales of $27.56 Million

Brokerages expect that First of Long Island Corp (NASDAQ:FLIC) will post sales of $27.56 million for the current quarter, according to Zacks. Two analysts have issued estimates for First of Long Island’s earnings. The highest sales estimate is $27.70 million and the lowest is $27.42 million. First of Long Island reported sales of $24.71 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.5%. The company is expected to announce its next 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 financial year, with estimates ranging from $110.88 million to $111.10 million. For the next year, analysts forecast that the business will report sales of $111.15 million, with estimates ranging from $111.10 million to $111.19 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow First of Long Island.

First of Long Island (NASDAQ:FLIC) last released 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 10.93%. The business had revenue of $27.61 million for the quarter, compared to analyst estimates of $27.79 million.

FLIC has been the subject of several recent analyst reports. BidaskClub raised First of Long Island from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Zacks Investment Research raised shares of First of Long Island from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st.

NASDAQ:FLIC traded down $0.15 during trading hours on Friday, hitting $23.80. 2,800 shares of the stock traded hands, compared to its average volume of 42,239. The firm has a 50 day moving average price of $23.70 and a 200 day moving average price of $22.34. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.97. First of Long Island has a fifty-two week low of $17.53 and a fifty-two week high of $24.62. The firm has a market cap of $669.71 million, a price-to-earnings ratio of 14.60 and a beta of 0.63.

In related news, CEO Michael N. Vittorio sold 3,000 shares of First of Long Island stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $24.25, for a total value of $72,750.00. Following the completion of the sale, the chief executive officer now owns 106,679 shares of the company’s stock, valued at approximately $2,586,965.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Curtis sold 5,000 shares of the firm’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 transaction, the executive vice president now owns 61,394 shares in the company, valued at $1,445,828.70. The disclosure for this sale can be found here. 4.93% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Susquehanna International Group LLP acquired a new stake in First of Long Island during the second quarter worth $3,285,000. Chilton Investment Co. LLC lifted its stake in First of Long Island by 15.9% in the 3rd quarter. Chilton Investment Co. LLC now owns 129,615 shares of the bank’s stock valued at $2,949,000 after acquiring an additional 17,824 shares in the last quarter. Mackay Shields LLC lifted its stake in First of Long Island by 41.7% in the third quarter. Mackay Shields LLC now owns 59,099 shares of the bank’s stock valued at $1,345,000 after acquiring an additional 17,400 shares during the last quarter. California Public Employees Retirement System grew its position in shares of First of Long Island by 42.4% in the 3rd quarter. California Public Employees Retirement System now owns 59,140 shares of the bank’s stock valued at $1,345,000 after acquiring an additional 17,595 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of First of Long Island by 50.2% in the 2nd quarter. Acadian Asset Management LLC now owns 40,550 shares of the bank’s stock valued at $815,000 after acquiring an additional 13,553 shares during the period. 48.67% of the stock is owned by institutional investors.

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

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