First of Long Island Corp (NASDAQ:FLIC) Expected to Post Quarterly Sales of $27.79 Million
Wall Street analysts predict that First of Long Island Corp (NASDAQ:FLIC) will post $27.79 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided 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 during the same quarter last year, which suggests a positive year over year growth rate of 20.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that First of Long Island will report full-year sales of $111.58 million for the current financial year, with estimates ranging from $110.56 million to $112.60 million. For the next financial year, analysts forecast that the business will report sales of $112.47 million, with estimates ranging from $110.73 million to $114.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover First of Long Island.
First of Long Island (NASDAQ:FLIC) last issued its earnings results on Monday, July 29th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate 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.
Shares of NASDAQ:FLIC traded up $0.18 on Thursday, reaching $21.87. 36,228 shares of the company’s stock were exchanged, compared to its average volume of 66,365. The company’s fifty day moving average price is $21.47. 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 cap of $546.56 million, a P/E ratio of 13.42 and a beta of 0.61. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.99.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Friday, July 12th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, July 11th. First of Long Island’s dividend payout ratio is currently 41.72%.
A number of institutional investors and hedge funds have recently bought and sold shares of FLIC. Tower Research Capital LLC TRC raised its holdings in First of Long Island by 669.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,733 shares of the bank’s stock valued at $95,000 after acquiring an additional 4,118 shares during the period. Legal & General Group Plc boosted its position in First of Long Island by 20.4% in the fourth quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock valued at $97,000 after buying an additional 817 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in First of Long Island by 425.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,137 shares of the bank’s stock valued at $113,000 after buying an additional 4,159 shares during the last quarter. SG Americas Securities LLC purchased a new stake in First of Long Island in the first quarter valued at approximately $134,000. Finally, JPMorgan Chase & Co. boosted its position in First of Long Island by 9.6% in the second quarter. JPMorgan Chase & Co. now owns 6,775 shares of the bank’s stock valued at $141,000 after buying an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 54.16% of the company’s stock.
About First of Long Island
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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