First of Long Island Reports Earnings Results, Missing Expectations

First of Long Island (NASDAQ:FLIC) announced its earnings results on Thursday, revealing a quarterly earnings per share (EPS) of $0.14. This figure fell short of analysts' expectations, which had set the consensus estimate at $0.24, resulting in a miss of $0.10 per share, according to reports from Zacks. The bank also reported a return on equity of 5.49% and a net margin of 11.15%.

Stock Performance Overview

During Thursday's trading session, the stock of First of Long Island saw an increase of $0.57, reaching a price of $12.88 per share. The volume of shares exchanged was 125,533, which is above the average trading volume of 86,954 shares. Over the past 12 months, the stock hit a low of $9.30 and a high of $15.03. The company's market capitalization stands at approximately $290.32 million. The price-to-earnings ratio is currently reported at 14.64, with a beta value of 0.74. The firm also has a current ratio of 0.98 and a quick ratio of 0.98, indicating its ability to cover short-term obligations, while its debt-to-equity ratio is reported at 1.15. Moving averages show a 50-day average of $12.75 and a 200-day average of $12.78.

Dividend Announcement

In addition to its earnings report, First of Long Island has declared a quarterly dividend. This dividend was paid on January 9th to investors on record as of December 31st, amounting to $0.21 per share. This translates to an annualized dividend of $0.84, resulting in a dividend yield of 6.52%. The payout ratio for the company's dividends is reported at 95.46%.

Latest Analyst Ratings

On January 23rd, a new research coverage was initiated by StockNews.com for shares of First of Long Island, where they have assigned a "hold" rating to the stock.

Company Background

The First of Long Island Corporation is the holding company for The First National Bank of Long Island, which provides various financial services targeted at small and medium-sized businesses, consumers, professionals, municipalities, and other organizations. The bank’s services include business and personal checking accounts, money market accounts, savings accounts, time deposits, and individual retirement accounts.

Earnings, Banking, Stocks