Equities analysts forecast that First of Long Island Corp (NASDAQ:FLIC) will report earnings per share (EPS) of $0.43 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for First of Long Island’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.41. First of Long Island posted earnings of $0.39 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The firm is scheduled to announce its next earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that First of Long Island will report full-year earnings of $1.72 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.74. For the next year, analysts anticipate that the firm will post earnings of $1.69 per share, with EPS estimates ranging from $1.60 to $1.77. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for First of Long Island.
First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Monday, July 29th. The bank reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. First of Long Island had a return on equity of 10.80% and a net margin of 28.68%. The company had revenue of $28.00 million during the quarter, compared to analysts’ expectations of $27.81 million.
In other news, insider Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $21.13, for a total value of $63,390.00. Following the completion of the transaction, the insider now directly owns 109,679 shares in the company, valued at $2,317,517.27. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.93% of the company’s stock.
Large investors have recently made changes to their positions in the company. Susquehanna International Group LLP purchased a new position in shares of First of Long Island in the second quarter worth about $3,285,000. Acadian Asset Management LLC raised its stake in shares of First of Long Island by 50.2% in the second quarter. Acadian Asset Management LLC now owns 40,550 shares of the bank’s stock worth $815,000 after purchasing an additional 13,553 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of First of Long Island by 9.6% in the second quarter. JPMorgan Chase & Co. now owns 6,775 shares of the bank’s stock worth $141,000 after purchasing an additional 592 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of First of Long Island in the second quarter worth about $369,000. Finally, Comerica Bank raised its stake in shares of First of Long Island by 13.6% in the second 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 57.35% of the company’s stock.
First of Long Island stock traded up $0.03 during midday trading on Monday, reaching $22.97. The company’s stock had a trading volume of 31,136 shares, compared to its average volume of 42,055. The stock’s 50-day simple moving average is $22.69 and its 200-day simple moving average is $22.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.95 and a quick ratio of 0.95. First of Long Island has a 52-week low of $17.53 and a 52-week high of $24.45. The stock has a market capitalization of $565.95 million, a P/E ratio of 14.09 and a beta of 0.63.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, October 9th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.13%. This is a boost from First of Long Island’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, October 8th. First of Long Island’s dividend payout ratio (DPR) is presently 44.17%.
First of Long Island Company Profile
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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