First of Long Island (NASDAQ:FLIC) Reports Earnings Results, Falls Short of Expectations

First of Long Island (NASDAQ:FLIC) released its earnings results on Thursday, revealing a quarterly earnings per share (EPS) of $0.14. This figure fell short of the consensus estimate of $0.24 by $0.10, according to reports from Zacks.

The bank also recorded a return on equity of 5.49% and a net margin of 11.15%, indicating its performance in managing profits relative to its equity and sales.

Stock Performance of First of Long Island

During trading hours on Thursday, First of Long Island's stock rose by $0.57, closing at $12.88. A total of 125,533 shares were traded, surpassing the average volume of 86,954 shares. Over the past year, the stock has experienced fluctuations, reaching a low of $9.30 and a high of $15.03. The company boasts a market capitalization of $290.32 million, with a price-to-earnings ratio of 14.64 and a beta value of 0.74. Financial ratios reveal a current ratio of 0.98, a quick ratio of 0.98, and a debt-to-equity ratio of 1.15. Furthermore, the stock has a 50-day moving average of $12.75, alongside a 200-day moving average of $12.78.

Dividend Announcement from First of Long Island

Recently, the company announced a quarterly dividend. Investors recorded as of Tuesday, December 31st received a dividend payment of $0.21, which translates to an annualized dividend of $0.84, yielding a 6.52%. The ex-dividend was set for Tuesday, December 31st, and First of Long Island's payout ratio stands at 95.46%.

Changes in Analyst Ratings

In addition, StockNews.com initiated coverage on First of Long Island's shares in a research note published on Thursday, January 23rd, designating a "hold" rating for the stock.

Company Overview of First of Long Island

First of Long Island Corporation serves as the parent company for The First National Bank of Long Island, providing a range of financial services to small and medium-sized businesses, professionals, consumers, municipalities, and various organizations. Their services include business checking, personal checking accounts, negotiable order of withdrawal, escrow services, money market accounts, savings options, time deposits, and individual retirement accounts.

Conclusion

These recent earnings results and stock movements reflect ongoing challenges and opportunities for First of Long Island. Investors will be keen to see how the bank adjusts its strategies to meet or exceed future earnings expectations.

Earnings, Finance, Stocks