First of Long Island Corp (NASDAQ:FLIC) – Investment analysts at Boenning Scattergood issued their Q1 2019 earnings per share estimates for shares of First of Long Island in a research note issued to investors on Monday, April 1st. Boenning Scattergood analyst E. Zwick expects that the bank will earn $0.44 per share for the quarter. Boenning Scattergood currently has a “Neutral” rating on the stock. Boenning Scattergood also issued estimates for First of Long Island’s Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.44 EPS, FY2019 earnings at $1.76 EPS, Q1 2020 earnings at $0.43 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.46 EPS and FY2020 earnings at $1.78 EPS.
FLIC has been the subject of a number of other research reports. BidaskClub upgraded First of Long Island from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Zacks Investment Research downgraded First of Long Island from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 1st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.50.
First of Long Island (NASDAQ:FLIC) last released its earnings results on Wednesday, January 30th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.05). The business had revenue of $24.71 million during the quarter, compared to analyst estimates of $28.51 million. First of Long Island had a net margin of 29.59% and a return on equity of 11.06%.
Several hedge funds have recently made changes to their positions in the business. Basswood Capital Management L.L.C. lifted its position in shares of First of Long Island by 101.1% during the 4th quarter. Basswood Capital Management L.L.C. now owns 488,568 shares of the bank’s stock worth $9,747,000 after buying an additional 245,625 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of First of Long Island by 11.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 671,303 shares of the bank’s stock worth $14,601,000 after buying an additional 70,076 shares during the period. Royce & Associates LP lifted its position in shares of First of Long Island by 4,439.7% during the 4th quarter. Royce & Associates LP now owns 57,700 shares of the bank’s stock worth $1,151,000 after buying an additional 56,429 shares during the period. Maltese Capital Management LLC lifted its position in shares of First of Long Island by 25.5% during the 3rd quarter. Maltese Capital Management LLC now owns 235,600 shares of the bank’s stock worth $5,124,000 after buying an additional 47,900 shares during the period. Finally, Cutler Capital Management LLC bought a new position in shares of First of Long Island during the 4th quarter worth approximately $947,000. Institutional investors own 56.18% of the company’s stock.
In other First of Long Island news, insider Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $21.12, for a total value of $63,360.00. Following the completion of the sale, the insider now owns 115,679 shares in the company, valued at approximately $2,443,140.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.93% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Tuesday, March 12th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.08%. First of Long Island’s dividend payout ratio is currently 41.72%.
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 privately owned 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 personal and non-personal money market and savings products.
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