First of Long Island said on March 3, 2023 that its board of directors declared a regular
quarterly dividend of $0.21 per share ($0.84 annualized).
Previously, the company paid $0.21 per share.
Shares must be purchased before the ex-div date of March 15, 2023 to qualify for the dividend.
Shareholders of record as of March 16, 2023
will receive the payment on March 24, 2023.
At the current share price of $16.69 / share,
the stock’s dividend yield is 5.03%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.68%,
the lowest has been 2.04%,
and the highest has been 5.24%.
The standard deviation of yields is 0.78 (n=236).
The current dividend yield is
1.74 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.40.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.17%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 8.48% Upside
As of March 8, 2023,
the average one-year price target for First of Long Island is $18.10.
The forecasts range from a low of $17.68 to a high of $18.90.
The average price target represents an increase of 8.48% from its latest reported closing price of $16.69.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for First of Long Island
is $132MM, an increase of 5.31%.
The projected annual non-GAAP EPS
is $1.99.
What is the Fund Sentiment?
There are 283 funds or institutions reporting positions in First of Long Island.
This is a decrease
of
9
owner(s) or 3.08% in the last quarter.
Average portfolio weight of all funds dedicated to FLIC is 0.04%,
a decrease
of 10.86%.
Total shares owned by institutions decreased
in the last three months by 8.37% to 14,628K shares.
The put/call ratio of FLIC is 0.75, indicating a
bullish
outlook.
What are Large Shareholders Doing?
FLPSX – Fidelity Low-Priced Stock Fund
holds 1,256K shares
representing 5.60% ownership of the company.
In it’s prior filing, the firm reported owning 1,271K shares, representing
a decrease
of 1.19%.
The firm
decreased
its portfolio allocation in FLIC by 0.33% over the last quarter.
Franklin Resources
holds 965K shares
representing 4.30% ownership of the company.
In it’s prior filing, the firm reported owning 1,369K shares, representing
a decrease
of 41.78%.
The firm
decreased
its portfolio allocation in FLIC by 84.49% over the last quarter.
FRVLX – Franklin Small Cap Value Fund
holds 850K shares
representing 3.79% ownership of the company.
In it’s prior filing, the firm reported owning 1,231K shares, representing
a decrease
of 44.77%.
The firm
decreased
its portfolio allocation in FLIC by 33.06% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 673K shares
representing 3.00% ownership of the company.
In it’s prior filing, the firm reported owning 657K shares, representing
an increase
of 2.28%.
The firm
decreased
its portfolio allocation in FLIC by 1.33% over the last quarter.
IWM – iShares Russell 2000 ETF
holds 571K shares
representing 2.54% ownership of the company.
In it’s prior filing, the firm reported owning 507K shares, representing
an increase
of 11.21%.
The firm
increased
its portfolio allocation in FLIC by 6.50% over the last quarter.
First Of Long Island Background Information
(This description is provided by the company.)
The First of Long Island Corporation is the bank holding company for The First National Bank of Long Island. The Bank serves the financial needs of privately-owned businesses, professionals, consumers, public bodies and other organizations primarily in Nassau and Suffolk Counties, Long Island, and the boroughs of Queens, Brooklyn and Manhattan within New York City with a current branch network of fifty branches.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
