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

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 of this dividend is Wednesday, July 10th.

First of Long Island has raised its dividend by an average of 4.8% annually over the last three years. First of Long Island has a dividend 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 tumble. 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

Shares of First of Long Island stock opened at $10.02 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $225.65 million, a P/E ratio of 9.28 and a beta of 0.66. The firm has a 50 day simple moving average of $10.04 and a 200 day simple moving average of $11.13. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $14.26.

First of Long Island (NASDAQ:FLIC) last issued 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 company had revenue of $44.27 million during the quarter, compared to analyst estimates of $22.50 million. First of Long Island had a net margin of 14.14% and a return on equity of 6.54%. During the same period in the prior year, the business earned $0.29 EPS. Sell-side analysts predict that First of Long Island will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.