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

The First of Long Island Co. (NASDAQ:FLIC) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Shareholders of record on Friday, October 11th will be paid a dividend of 0.21 per share by the bank on Monday, October 21st. This represents a $0.84 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend is Friday, October 11th.

First of Long Island has raised its dividend by an average of 4.8% per year over the last three years. First of Long Island has a dividend payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings.

First of Long Island Price Performance

NASDAQ:FLIC opened at $12.57 on Thursday. The firm has a market capitalization of $283.03 million, a price-to-earnings ratio of 11.78 and a beta of 0.69. First of Long Island has a 1 year low of $9.30 and a 1 year high of $13.95. The business has a 50 day simple moving average of $12.56 and a 200-day simple moving average of $11.15. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $45.41 million during the quarter, compared to analyst estimates of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same period last year, the company earned $0.31 EPS.

Insider Buying and Selling at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the sale, the director now owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FLIC shares. StockNews.com began coverage on First of Long Island in a research report on Thursday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

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.