First of Long Island (NASDAQ:FLIC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

First of Long Island (NASDAQ:FLIC) released its earnings results on Thursday. The bank reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02, Zacks reports. The business had revenue of $45.41 million during the quarter, compared to the consensus estimate of $20.90 million. First of Long Island had a return on equity of 5.96% and a net margin of 12.58%. During the same period last year, the company earned $0.31 earnings per share.

First of Long Island Trading Up 5.2 %

Shares of First of Long Island stock traded up $0.66 during trading hours on Friday, hitting $13.34. The company’s stock had a trading volume of 154,947 shares, compared to its average volume of 203,329. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $300.36 million, a price-to-earnings ratio of 12.35 and a beta of 0.69. The firm has a fifty day moving average of $10.42 and a 200-day moving average of $10.87. First of Long Island has a twelve month low of $9.30 and a twelve month high of $14.26.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 6.30%. The ex-dividend date was Wednesday, July 10th. First of Long Island’s payout ratio is currently 77.78%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded First of Long Island from a “sell” rating to a “hold” rating in a research note on Saturday.

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. The company offers business and small business checking, personal checking, negotiable order of withdrawal, interest on lawyer, escrow service, rent security, personal and nonpersonal money market, savings, time deposit, and individual retirement accounts.