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First of Long Island (FLIC) Stock Overview
Operates as a bank holding company for The First National Bank of Long Island that provides financial services to small and medium market businesses, professional service firms, not-for-profits, municipalities, and consumers in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 1/6 |
| Financial Health | 6/6 |
| Dividends | 4/6 |
FLIC Community Fair Values
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Analyst Price Targets
The First of Long Island Corporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$11.87 |
| 52 Week High | US$15.03 |
| 52 Week Low | US$9.30 |
| Beta | 0.86 |
| 1 Month Change | -2.14% |
| 3 Month Change | -4.74% |
| 1 Year Change | 24.03% |
| 3 Year Change | -36.76% |
| 5 Year Change | -32.36% |
| Change since IPO | 758.46% |
Recent News & Updates
Recent updates
Seeking Alpha • Oct 28
First of Long Island Corporation: Q3 Earnings Merit A Buy
Summary The First of Long Island Corporation is a regional bank with a strong Q3 2024 performance, despite slight revenue dips and competitive deposit markets. Margins are improving, loan demand is stable, and asset quality remains strong, supporting our buy recommendation at current levels. The stock offers a 6.7% yield and trades at a discount-to-book value, with book value per share at $17.25 versus $12.70. Despite higher provision expenses and volatility in non-interest income, the bank's operational metrics are holding up, making it an attractive investment. Read the full article on Seeking Alpha
New Narrative • Sep 26
Decisive Shifts And Financial Management Propel Bank Toward Robust Earnings Growth
Shift towards commercial lending and reduction in residential loans underscores a strategic refocus on higher-margin, relationship-based business operations.Analysis Article • Jul 02
First of Long Island (NASDAQ:FLIC) Is Paying Out A Dividend Of $0.21
The board of The First of Long Island Corporation ( NASDAQ:FLIC ) has announced that it will pay a dividend of $0.21...Analysis Article • Mar 11
First of Long Island (NASDAQ:FLIC) Will Pay A Dividend Of $0.21
The First of Long Island Corporation ( NASDAQ:FLIC ) has announced that it will pay a dividend of $0.21 per share on...Analysis Article • Dec 21
First of Long Island (NASDAQ:FLIC) Has Announced A Dividend Of $0.21
The First of Long Island Corporation ( NASDAQ:FLIC ) has announced that it will pay a dividend of $0.21 per share on...Analysis Article • Oct 06
First of Long Island (NASDAQ:FLIC) Has Announced A Dividend Of $0.21
The board of The First of Long Island Corporation ( NASDAQ:FLIC ) has announced that it will pay a dividend on the 19th...Analysis Article • Jul 06
First of Long Island (NASDAQ:FLIC) Is Due To Pay A Dividend Of $0.21
The First of Long Island Corporation's ( NASDAQ:FLIC ) investors are due to receive a payment of $0.21 per share on...Analysis Article • May 07
These Analysts Just Made An Incredible Downgrade To Their The First of Long Island Corporation (NASDAQ:FLIC) EPS Forecasts
One thing we could say about the analysts on The First of Long Island Corporation ( NASDAQ:FLIC ) - they aren't...Analysis Article • Mar 09
First of Long Island (NASDAQ:FLIC) Has Announced A Dividend Of $0.21
The board of The First of Long Island Corporation ( NASDAQ:FLIC ) has announced that it will pay a dividend of $0.21...Analysis Article • Oct 06
First of Long Island's (NASDAQ:FLIC) Upcoming Dividend Will Be Larger Than Last Year's
The First of Long Island Corporation ( NASDAQ:FLIC ) will increase its dividend on the 21st of October to $0.21, which...Seeking Alpha • Sep 30
The First of Long Island raises dividend by 5% to $0.21
The First of Long Island (NASDAQ:FLIC) declares $0.21/share quarterly dividend, 5% increase from prior dividend of $0.20. Forward yield 4.81% Payable Oct. 21; for shareholders of record Oct. 12; ex-div Oct. 11. See FLIC Dividend Scorecard, Yield Chart, & Dividend Growth.Seeking Alpha • Aug 21
The First Of Long Island: Solid Yielding Bank To Own Under $20
The return metrics are strong with The First Of Long Island. The company has had to adjust to a rapidly rising rate environment and should see the benefit of better rates next year. A shareholder friendly bank. The First of Long Island Corporation (FLIC) is a regional bank that we think can be comfortably bought under $20 a share. While the company has had to adjust to a rising rate environment, and the recently reported earnings reflected some of these pressures, we think you can own this shareholder friendly bank going forward. We are pretty bullish on the bank moving forward. In this column we analyze and discuss a number of the key metrics that we follow in the many regional banks we cover that you should be aware of if you are considering buying this stock. In our opinion, the return metrics are strong. On top of that the dividend yield is solid, just over 4%, and we believe rates being higher means most banks are going to do very well in 2023. We think shares are a buy. Let us discuss First of Long Island Q2 2022 headline performance On the back of a growing loan base, as well as a growing deposit base that increased, as well as decent margins, The First of Long Island bank saw revenues that were slightly ahead of expectations. The revenues also increased from a year ago. In Q2 2022, The First of Long Island reported a top-line revenue figure of $32.7 million. In addition, The First of Long Island saw a 10% increase in this key metric year-over-year. This was well above the estimates for $31.2 million. This was welcomed headline news because overall performance has been mixed in the sector, at least in terms of the banks we have been examining. Some banks have seen flat to down revenues versus last year, while others saw strong increases. Because this is a smaller regional bank it is subject to revenue fluctuation, but the higher loan balances and decent portfolio yields bolstered revenues. There was a significant improvement revenues but we saw an uptick in loss provisions this quarter and in the first half of 2022. In H2 2022 the provision for credit losses increased $2.8 million from the credit of $1.6 million in the H1 2021. This was from a jump in outstanding mortgage loans and the bank making qualitative adjustments for current conditions. That said, net income for Q2 2022 was $12.5 million and increased $1.1 million, or 9.6%, from $11.4 million a year ago. There was also an increase in net interest income of $2.8 million, and again there was a loan loss provision of $1.2 million. On a per share basis, the net income increased. The First of Long Island saw EPS of $0.54 this quarter, up $0.06 from last year. However, better days are ahead with the prospects of a still strong economy in 2022 and a benefit from better rates. Many of the loans on the books were doled out before the big rate increase. We expect net interest income to continue to improve moving forward. Looking more into First of Long Island's loans and deposits Growth in loans and deposits are key for regional banks. Going back to 2020 we want to remind you that the PPP loans of the time helped boost many regional banks loan portfolio balances, so a direct comp is somewhat misleading. As we move forward growth in both of these metrics is critical, but PPP loans are fading out. The average balance of loans increased $277 million, or 9.2% over Q2 2021. Not bad at all. While PPP loan differences accounted for some of this there was also an increase in mortgage loans, stemming from increased competition among banks and originators. It is worth noting that commercial mortgages have rebounded, and grew significantly since a year ago. Long Island is booming again, with life back to normal, and businesses and tourists have returned in a big way. That said, total deposits increased from $3.32 billion to $3.61 billion this year. That means there are more assets on hand to lend out to customers. As rates rise this is critical. The bank will be able to lend this money out at much higher rates. The so-called spread on what is lent out vs. the cost of funds should widen in 2023 easily. What about the quality of the assets here? First of Long Island's asset quality It is great to see loan growth but we need a sense of the quality of assets on the books. If things are poor, it could mean the bank is taking risky loans on. That said, we saw mostly strong trends in asset quality metrics, and this is quite bullish. One metric that hit banks last year was the massive provisions for loan losses. Some banks have seen huge improvements on this front, and as we mentioned given the much larger loan base and the macro risk out there, First of Long Island had a $1.2 million provision. Another key metric to watch is the bank's allowance for credit losses. Well the allowance for credit losses to total loans was just 0.93% at the end of Q2 2022. Being under 1% is huge, and this was a 3 basis point improvement from the start of the year. Since COVID hit, there has been a sizable reduction in credit loss allowances. Nonaccrual loans, troubled debt restructurings, and loans past due 30 through 89 days still remain at low levels as well. The return on assets improved to 1.18% from 1.08% a year ago. The return on equity improved sharply to 12.94% from 11.2% last year. Great moves. We continue to see solid improvement on both of these metrics as the bank is able to lend out at higher rates, so long as the local economy remains robust.Seeking Alpha • Jul 28
The First of Long Island Q2 GAAP EPS, revenue beats
The First of Long Island press release (NASDAQ:FLIC): Q2 GAAP EPS of $0.54 beats by $0.06 (vs. $0.48 in prior-year quarter). Revenue of $32.72M (+10.0% Y/Y) beats by $1.51M.Seeking Alpha • Jul 01
The First of Long Island declares $0.20 dividend
The First of Long Island (NASDAQ:FLIC) declares $0.20/share quarterly dividend, in line with previous. Forward yield 4.56% Payable July 22; for shareholders of record July 14; ex-div July 13. See FLIC Dividend Scorecard, Yield Chart, & Dividend Growth.Seeking Alpha • Jun 07
First of Long Island: Capable Of Weathering Higher Interest Rates
Thanks to regional economic factors, the loan portfolio will continue to grow at a decent level for the remainder of the year. Due to the combination of sticky earning-asset yields and flexible deposit costs, the net interest margin is inversely proportional to interest rate hikes this year. The December 2022 target price suggests a high upside from the current market price. Further, FLIC is offering a good dividend yield.Seeking Alpha • Mar 23
First of Long Island - A Fair Deal At 1.15x Tangible Book Value
First of Long Island has historically been a pretty dependable bank, rating highly on efficiency and asset quality. Loan growth has been weak recently while the bank's liability-sensitive balance sheet means it won't benefit in the short term from rising interest rates. That said, the valuation compensates for this, with the stock currently trading for around 1.15x tangible book value and 11x 2022 EPS estimates.Seeking Alpha • Jan 13
First Of Long Island: Attractively Valued But Earnings Will Likely Decline
A reduction in Paycheck Protection Program forgiveness, team additions, and geographical expansion will likely drive loan growth this year. The average earning asset yield is mostly upward sticky in the short term because most of the company’s loans and securities do not reprice immediately. The provision expense will likely increase this year but remain below the pre-pandemic average. The December 2022 target price suggests a small upside from the current market price. Further, FLIC is offering a modest dividend yield.Shareholder Returns
| FLIC | US Banks | US Market | |
|---|---|---|---|
| 7D | -0.8% | 1.0% | -1.1% |
| 1Y | 24.0% | 21.3% | 15.1% |
Return vs Industry: FLIC exceeded the US Banks industry which returned 20% over the past year.
Return vs Market: FLIC exceeded the US Market which returned 11.9% over the past year.
Price Volatility
| FLIC volatility | |
|---|---|
| FLIC Average Weekly Movement | 5.4% |
| Banks Industry Average Movement | 3.4% |
| Market Average Movement | 7.1% |
| 10% most volatile stocks in US Market | 16.1% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: FLIC has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: FLIC's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1927 | 265 | Chris Becker | www.fnbli.com |
The First of Long Island Corporation operates as a bank holding company for The First National Bank of Long Island that provides financial services to small and medium market businesses, professional service firms, not-for-profits, municipalities, and consumers in the United States. The company offers business and personal checking products; negotiable order of withdrawal, interest on lawyer, escrow service, rent security, personal and nonpersonal money market and savings, and individual retirement accounts; and time deposits. It also provides commercial and residential mortgage, commercial and industrial, small business, multifamily, owner-occupied, municipal, Small Business Administration, construction and land development, consumer, and revolving home equity lines of credit/loans, as well as standby letters of credit; and debit and credit cards.
The First of Long Island Corporation Fundamentals Summary
| FLIC fundamental statistics | |
|---|---|
| Market cap | US$269.21m |
| Earnings (TTM) | US$16.40m |
| Revenue (TTM) | US$85.36m |
16.4x
P/E Ratio0.7x
P/B RatioIs FLIC overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| FLIC income statement (TTM) | |
|---|---|
| Revenue | US$85.36m |
| Cost of Revenue | US$0 |
| Gross Profit | US$85.36m |
| Other Expenses | US$68.97m |
| Earnings | US$16.40m |
Last Reported Earnings
Mar 31, 2025
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.72 |
| Gross Margin | 100.00% |
| Net Profit Margin | 19.21% |
| Debt/Equity Ratio | 94.2% |
How did FLIC perform over the long term?
See historical performance and comparisonDividends
7.1%
Current Dividend Yield116%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/06/03 23:05 |
| End of Day Share Price | 2025/05/30 00:00 |
| Earnings | 2025/03/31 |
| Annual Earnings | 2024/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
The First of Long Island Corporation is covered by 3 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Christopher McGratty | Keefe, Bruyette, & Woods |
| Christopher O'Connell | Keefe, Bruyette, & Woods |
| William Wallace | Raymond James & Associates |