The First of Long Island Corporation (NASDAQ:FLIC) Declares Dividend Increase – $0.15 Per Share
The First of Long Island Corporation (NASDAQ:FLIC) declared a quarterly dividend on Monday, October 2nd, Wall Street Journal reports. Shareholders of record on Wednesday, October 11th will be paid a dividend of 0.15 per share by the bank on Friday, October 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 10th. This is a boost from The First of Long Island Corporation’s previous quarterly dividend of $0.14.
Shares of The First of Long Island Corporation (NASDAQ FLIC) traded up 0.16% during trading on Friday, hitting $31.25. 20,800 shares of the stock were exchanged. The firm’s 50 day moving average price is $28.95 and its 200-day moving average price is $27.87. The First of Long Island Corporation has a 52 week low of $25.08 and a 52 week high of $40.40. The stock has a market cap of $761.94 million, a P/E ratio of 22.29 and a beta of 0.81.
The First of Long Island Corporation (NASDAQ:FLIC) last posted its earnings results on Friday, July 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The business had revenue of $26.14 million for the quarter, compared to analysts’ expectations of $25.86 million. The First of Long Island Corporation had a net margin of 28.29% and a return on equity of 10.68%. On average, analysts predict that The First of Long Island Corporation will post $1.51 EPS for the current year.
In other news, insider Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $26.80, for a total transaction of $80,400.00. Following the completion of the sale, the insider now owns 99,006 shares of the company’s stock, valued at approximately $2,653,360.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.83% of the stock is owned by corporate insiders.
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Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of The First of Long Island Corporation from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Wednesday, August 2nd. BidaskClub lowered shares of The First of Long Island Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, ValuEngine lowered shares of The First of Long Island Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
About The First of Long Island Corporation
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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