First of Long Island Corp (NASDAQ:FLIC) Expected to Post Quarterly Sales of $27.79 Million
Wall Street analysts expect that First of Long Island Corp (NASDAQ:FLIC) will announce sales of $27.79 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for First of Long Island’s earnings. The lowest sales estimate is $27.17 million and the highest is $28.40 million. First of Long Island posted sales of $23.07 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.5%. The business is scheduled to issue its next earnings report on Tuesday, October 29th.
On average, analysts expect that First of Long Island will report full-year sales of $111.58 million for the current fiscal year, with estimates ranging from $110.56 million to $112.60 million. For the next financial year, analysts anticipate that the company will post sales of $112.47 million, with estimates ranging from $110.73 million to $114.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover First of Long Island.
First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. First of Long Island had a return on equity of 10.84% and a net margin of 28.68%. The business had revenue of $28.00 million for the quarter, compared to analyst estimates of $27.81 million.
FLIC stock traded up $0.18 during trading on Thursday, reaching $21.87. 36,228 shares of the stock were exchanged, compared to its average volume of 66,365. First of Long Island has a twelve month low of $17.53 and a twelve month high of $23.65. The firm has a market capitalization of $546.56 million, a P/E ratio of 13.42 and a beta of 0.61. The business’s 50 day simple moving average is $21.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.95 and a quick ratio of 0.95.
The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Friday, July 12th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Thursday, July 11th. First of Long Island’s dividend payout ratio (DPR) is presently 41.72%.
A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in First of Long Island by 9.6% during the second quarter. JPMorgan Chase & Co. now owns 6,775 shares of the bank’s stock worth $141,000 after buying an additional 592 shares in the last quarter. Legal & General Group Plc boosted its holdings in First of Long Island by 20.4% during the fourth quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock valued at $97,000 after purchasing an additional 817 shares in the last quarter. Strs Ohio boosted its holdings in First of Long Island by 0.7% during the second quarter. Strs Ohio now owns 132,700 shares of the bank’s stock valued at $2,664,000 after purchasing an additional 900 shares in the last quarter. Cutler Capital Management LLC boosted its holdings in First of Long Island by 2.3% during the second quarter. Cutler Capital Management LLC now owns 53,150 shares of the bank’s stock valued at $1,067,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in First of Long Island by 10.1% during the second quarter. Bank of Montreal Can now owns 22,193 shares of the bank’s stock valued at $445,000 after purchasing an additional 2,029 shares in the last quarter. 54.16% of the stock is currently owned by institutional investors and hedge funds.
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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