The First of Long Island Corporation (FLIC) Announces Quarterly Earnings Results, Meets Expectations
The First of Long Island Corporation (NASDAQ:FLIC) announced its quarterly earnings results on Monday. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38, Yahoo Finance reports. The First of Long Island Corporation had a return on equity of 10.68% and a net margin of 28.29%.
Shares of The First of Long Island Corporation (NASDAQ FLIC) traded up 2.11% on Tuesday, reaching $31.40. The company’s stock had a trading volume of 53,467 shares. The stock has a 50-day moving average of $30.16 and a 200 day moving average of $28.24. The company has a market cap of $765.59 million, a price-to-earnings ratio of 22.40 and a beta of 0.81. The First of Long Island Corporation has a 52-week low of $21.10 and a 52-week high of $31.95.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Wednesday, October 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Tuesday, October 10th. This is an increase from The First of Long Island Corporation’s previous quarterly dividend of $0.14. The First of Long Island Corporation’s dividend payout ratio is 43.06%.
In other news, insider Michael N. Vittorio sold 3,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $26.80, for a total value of $80,400.00. Following the completion of the transaction, the insider now owns 99,006 shares in the company, valued at $2,653,360.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.83% of the stock is owned by insiders.
Several equities research analysts recently issued reports on FLIC shares. Zacks Investment Research downgraded The First of Long Island Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. BidaskClub upgraded The First of Long Island Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, ValuEngine upgraded The First of Long Island Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st.
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The First of Long Island Corporation Company Profile
The First of Long Island Corporation is a one-bank holding company. The Company provides financial services through its subsidiary, The First National Bank of Long Island (the Bank). Its services include account reconciliation services, bank by mail, personal money orders, bill payment, remote deposit, cash management services, safe deposit boxes, collection services securities transactions, controlled disbursement accounts, signature guarantee services, drive-through banking, merchant credit card services, and investment management and trust services.
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