The First of Long Island Co. (NASDAQ:FLIC) Plans $0.21 Quarterly Dividend

The First of Long Island Co. (NASDAQ:FLIC) declared a quarterly dividend on Friday, June 28th, Zacks reports. Stockholders of record on Wednesday, July 10th will be given a dividend of 0.21 per share by the bank on Thursday, July 18th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.38%. The ex-dividend date is Wednesday, July 10th.

First of Long Island has increased its dividend payment by an average of 4.8% per year over the last three years. First of Long Island has a payout ratio of 77.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect First of Long Island to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 81.6%.

First of Long Island Stock Performance

NASDAQ FLIC opened at $10.02 on Friday. The stock has a market cap of $225.65 million, a PE ratio of 9.28 and a beta of 0.66. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.37. First of Long Island has a twelve month low of $9.30 and a twelve month high of $14.26. The stock has a fifty day simple moving average of $10.04 and a 200-day simple moving average of $11.14.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The business had revenue of $44.27 million for the quarter, compared to analysts’ expectations of $22.50 million. First of Long Island had a return on equity of 6.54% and a net margin of 14.14%. During the same quarter in the prior year, the company posted $0.29 earnings per share. Equities analysts anticipate that First of Long Island will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised First of Long Island from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th.

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, 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.