Brokerages expect The First of Long Island Co. (NASDAQ:FLIC) to report $29.15 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for The First of Long Island’s earnings. The lowest sales estimate is $27.90 million and the highest is $30.20 million. The First of Long Island reported sales of $28.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.1%. The business is expected to announce its next earnings report on Thursday, April 29th.
On average, analysts expect that The First of Long Island will report full year sales of $113.58 million for the current fiscal year, with estimates ranging from $112.00 million to $116.10 million. For the next year, analysts expect that the firm will report sales of $115.71 million, with estimates ranging from $114.73 million to $117.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow The First of Long Island.
The First of Long Island (NASDAQ:FLIC) last issued its earnings results on Thursday, January 28th. The bank reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The First of Long Island had a return on equity of 10.78% and a net margin of 26.67%.
Several institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in The First of Long Island by 161.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 155,346 shares of the bank’s stock valued at $2,301,000 after buying an additional 95,874 shares during the period. BlackRock Inc. raised its holdings in shares of The First of Long Island by 4.5% in the 4th quarter. BlackRock Inc. now owns 1,849,446 shares of the bank’s stock worth $33,013,000 after purchasing an additional 80,263 shares during the period. First Trust Advisors LP purchased a new position in The First of Long Island in the third quarter valued at approximately $969,000. Mackay Shields LLC grew its holdings in The First of Long Island by 99.8% during the third quarter. Mackay Shields LLC now owns 113,699 shares of the bank’s stock valued at $1,684,000 after purchasing an additional 56,800 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in The First of Long Island by 294.2% in the 4th quarter. JPMorgan Chase & Co. now owns 67,752 shares of the bank’s stock worth $1,210,000 after acquiring an additional 50,563 shares during the last quarter. 56.77% of the stock is owned by hedge funds and other institutional investors.
NASDAQ FLIC opened at $20.66 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.69. The First of Long Island has a 52 week low of $12.15 and a 52 week high of $21.25. The business has a 50 day moving average price of $18.67 and a 200-day moving average price of $17.17. The company has a market cap of $493.39 million, a price-to-earnings ratio of 12.44 and a beta of 0.53.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 19th. Investors of record on Wednesday, March 10th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 9th. This represents a $0.76 dividend on an annualized basis and a yield of 3.68%. The First of Long Island’s dividend payout ratio (DPR) is currently 43.43%.
The 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, municipalities, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts, interest on lawyer accounts, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market accounts.
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