First of Long Island (NASDAQ:FLIC) Issues Quarterly Earnings Results

First of Long Island (NASDAQ:FLIC) announced its earnings results on Thursday. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.12, MarketWatch Earnings reports. First of Long Island had a net margin of 26.49% and a return on equity of 10.89%. The company had revenue of $28.68 million for the quarter, compared to analyst estimates of $27.95 million.

Shares of FLIC stock opened at $14.91 on Friday. The firm has a fifty day moving average of $15.08 and a 200-day moving average of $17.39. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.24. First of Long Island has a 12-month low of $12.15 and a 12-month high of $25.53. The company has a market capitalization of $355.54 million, a price-to-earnings ratio of 8.62 and a beta of 0.53.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, July 9th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Wednesday, July 8th. First of Long Island’s dividend payout ratio is 41.14%.

In other news, Director Milbrey Rennie Taylor sold 2,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $17.55, for a total transaction of $35,100.00. Insiders have sold 4,000 shares of company stock valued at $69,280 in the last three months. 5.35% of the stock is owned by insiders.

FLIC has been the topic of several analyst reports. Zacks Investment Research lowered shares of First of Long Island from a “buy” rating to a “hold” rating in a report on Friday, July 17th. Piper Sandler raised shares of First of Long Island from a “neutral” rating to an “overweight” rating and upped their target price for the company from $16.00 to $19.00 in a research note on Tuesday, May 5th. Finally, BidaskClub downgraded shares of First of Long Island from a “hold” rating to a “sell” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $18.00.

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 for First of Long Island (NASDAQ:FLIC)

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