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First of Long Island

Nasdaq:FLIC
Snowflake Description

Flawless balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FLIC
Nasdaq
$558M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to privately owned businesses, professionals, consumers, public bodies, and other organizations. The last earnings update was 46 days ago. More info.


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FLIC Share Price and Events
Price Volatility
FLIC
Industry
5yr Volatility vs Market

Value

 Is First of Long Island undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First of Long Island to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First of Long Island.

NasdaqCM:FLIC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= $16.18 * 1063.2%
$1.72
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $16.18
Discount Rate (Cost of Equity) See below 9.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:FLIC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.5
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.496 (1 + (1- 21%) (120.23%))
0.974
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.974 * 7.05%)
9.82%

Discounted Cash Flow Calculation for NasdaqCM:FLIC using Excess Returns Model Model

The calculations below outline how an intrinsic value for First of Long Island is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:FLIC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (1063.2% – 9.82%) * $16.18)
$0.13
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.13 / (9.82% - 2.95%)
$1.91
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $16.18 + $1.91
$18.09
NasdaqCM:FLIC Discount to Share Price
Calculation Result
Value per share (USD) From above. $18.09
Current discount Discount to share price of $21.80
= -1 x ($21.80 - $18.09) / $18.09
-20.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of First of Long Island is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First of Long Island's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First of Long Island's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:FLIC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in USD $1.54
NasdaqCM:FLIC Share Price ** NasdaqCM (2018-08-15) in USD $21.8
United States of America Banks Industry PE Ratio Median Figure of 838 Publicly-Listed Banks Companies 16.31x
United States of America Market PE Ratio Median Figure of 7,193 Publicly-Listed Companies 18.22x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First of Long Island.

NasdaqCM:FLIC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:FLIC Share Price ÷ EPS (both in USD)

= 21.8 ÷ 1.54

14.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First of Long Island is good value based on earnings compared to the US Banks industry average.
  • First of Long Island is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does First of Long Island's expected growth come at a high price?
Raw Data
NasdaqCM:FLIC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.15x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
1.9%per year
United States of America Banks Industry PEG Ratio Median Figure of 494 Publicly-Listed Banks Companies 1.19x
United States of America Market PEG Ratio Median Figure of 5,693 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NasdaqCM:FLIC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.15x ÷ 1.9%

7.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First of Long Island is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on First of Long Island's assets?
Raw Data
NasdaqCM:FLIC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in USD $14.76
NasdaqCM:FLIC Share Price * NasdaqCM (2018-08-15) in USD $21.8
United States of America Banks Industry PB Ratio Median Figure of 860 Publicly-Listed Banks Companies 1.4x
United States of America Market PB Ratio Median Figure of 11,718 Publicly-Listed Companies 1.87x
NasdaqCM:FLIC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:FLIC Share Price ÷ Book Value per Share (both in USD)

= 21.8 ÷ 14.76

1.48x

* Primary Listing of First of Long Island.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First of Long Island is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess First of Long Island's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First of Long Island has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is First of Long Island expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First of Long Island expected to grow at an attractive rate?
  • First of Long Island's earnings growth is positive but not above the low risk savings rate of 3%.
Growth vs Market Checks
  • First of Long Island's earnings growth is positive but not above the United States of America market average.
  • First of Long Island's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:FLIC Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:FLIC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 1.9%
NasdaqCM:FLIC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 9.4%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 6.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 6.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:FLIC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:FLIC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 120 42 1
2019-12-31 115 42 4
2018-12-31 113 42 4
NasdaqCM:FLIC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-06-30 103 54 38
2018-03-31 100 47 37
2017-12-31 99 47 35
2017-09-30 99 43 35
2017-06-30 95 43 34
2017-03-31 95 43 32
2016-12-31 92 36 31
2016-09-30 90 36 30
2016-06-30 87 34 28
2016-03-31 83 33 27
2015-12-31 80 36 26
2015-09-30 78 35 25

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First of Long Island's earnings are expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
  • First of Long Island's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:FLIC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from First of Long Island Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:FLIC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.62 1.62 1.62 1.00
2019-12-31 1.65 1.77 1.59 4.00
2018-12-31 1.66 1.72 1.59 4.00
NasdaqCM:FLIC Past Financials Data
Date (Data in USD Millions) EPS *
2018-06-30 1.54
2018-03-31 1.51
2017-12-31 1.44
2017-09-30 1.46
2017-06-30 1.41
2017-03-31 1.38
2016-12-31 1.35
2016-09-30 1.35
2016-06-30 1.32
2016-03-31 1.28
2015-12-31 1.23
2015-09-30 1.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • First of Long Island is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess First of Long Island's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First of Long Island has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has First of Long Island performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First of Long Island's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First of Long Island's year on year earnings growth rate has been positive over the past 5 years.
  • First of Long Island's 1-year earnings growth exceeds its 5-year average (13.7% vs 10.8%)
  • First of Long Island's earnings growth has exceeded the US Banks industry average in the past year (13.7% vs 10.8%).
Earnings and Revenue History
First of Long Island's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First of Long Island Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:FLIC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 102.72 38.21 46.45
2018-03-31 100.14 37.02 44.44
2017-12-31 98.53 34.99 43.00
2017-09-30 98.62 34.94 42.38
2017-06-30 95.46 33.60 41.39
2017-03-31 95.14 32.20 40.29
2016-12-31 92.02 30.75 39.32
2016-09-30 90.01 29.88 38.76
2016-06-30 87.13 28.43 38.13
2016-03-31 82.90 27.01 37.13
2015-12-31 80.05 25.89 36.38
2015-09-30 77.62 24.73 36.16
2015-06-30 75.96 24.27 35.30
2015-03-31 72.49 23.54 34.52
2014-12-31 71.14 23.01 33.53
2014-09-30 70.11 22.73 32.00
2014-06-30 68.53 21.86 31.83
2014-03-31 67.57 21.62 31.29
2013-12-31 66.54 21.30 31.02
2013-09-30 65.49 21.18 29.74
2013-06-30 64.35 20.78 29.24
2013-03-31 68.01 20.88 29.09
2012-12-31 66.66 20.39 29.28
2012-09-30 66.04 20.07 28.23
2012-06-30 66.54 20.57 28.10
2012-03-31 61.64 19.84 28.19
2011-12-31 61.11 19.46 28.00
2011-09-30 59.77 18.79 27.66

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First of Long Island has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First of Long Island used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • First of Long Island has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess First of Long Island's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First of Long Island has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is First of Long Island's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First of Long Island's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First of Long Island Company Filings, last reported 1 month ago.

NasdaqCM:FLIC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 374.24 670.84 67.19
2018-03-31 361.45 609.80 69.92
2017-12-31 354.45 704.94 39.76
2017-09-30 342.96 518.88 39.88
2017-06-30 330.28 548.38 56.71
2017-03-31 316.43 529.70 48.17
2016-12-31 305.83 586.22 36.93
2016-09-30 310.37 480.73 48.86
2016-06-30 305.65 416.88 51.03
2016-03-31 260.44 401.02 42.32
2015-12-31 250.94 577.21 39.64
2015-09-30 247.28 419.96 33.36
2015-06-30 239.11 362.57 46.59
2015-03-31 239.93 396.40 41.07
2014-12-31 233.30 481.49 32.94
2014-09-30 230.67 359.73 31.25
2014-06-30 225.93 366.77 45.76
2014-03-31 218.06 304.78 47.68
2013-12-31 206.56 395.46 35.50
2013-09-30 200.92 362.85 47.00
2013-06-30 196.96 250.53 38.69
2013-03-31 206.15 250.48 27.01
2012-12-31 205.37 248.63 42.19
2012-09-30 205.26 218.26 40.16
2012-06-30 197.31 228.80 40.48
2012-03-31 194.69 305.20 35.41
2011-12-31 189.35 309.73 29.50
2011-09-30 185.90 230.09 28.18
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First of Long Island has an acceptable proportion of non-loan assets held.
  • First of Long Island's liabilities are made up of primarily low risk sources of funding.
  • Loans at First of Long Island are broadly funded by customer deposits.
  • First of Long Island's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • First of Long Island has a sufficient allowance for bad loans.
  • First of Long Island has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First of Long Island's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First of Long Island has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is First of Long Island's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.75%
Current annual income from First of Long Island dividends. Estimated to be 2.79% next year.
If you bought $2,000 of First of Long Island shares you are expected to receive $55 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First of Long Island's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • First of Long Island's dividend is below the markets top 25% of dividend payers in United States of America (3.82%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:FLIC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 695 Stocks 4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 5588 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:FLIC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.60 1.00
2019-12-31 0.62 4.00
2018-12-31 0.61 4.00
NasdaqCM:FLIC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-06-29 0.600 2.511
2018-03-02 0.600 2.259
2017-12-18 0.600 2.119
2017-09-29 0.600 1.997
2017-06-30 0.560 2.011
2017-03-06 0.560 2.054
2016-12-21 0.560 2.013
2016-09-21 0.560 2.365
2016-06-22 0.533 2.599
2016-03-02 0.533 2.740
2015-12-15 0.533 2.821
2015-09-16 0.533 2.818
2015-06-17 0.507 2.837
2015-02-26 0.507 2.952
2014-12-17 0.507 3.016
2014-11-10 0.507 2.934
2014-10-30 0.507 2.906
2014-09-17 0.498 3.133
2014-06-18 0.462 2.873
2014-02-26 0.462 2.683
2013-12-18 0.462 2.582
2013-09-19 0.462 2.597
2013-06-19 0.444 2.784
2013-03-01 0.444 3.312
2013-01-30 0.444 3.392
2012-09-19 0.444 3.422
2012-08-09 0.409 3.064
2012-07-30 0.409 3.206
2012-06-20 0.409 3.176
2012-05-10 0.409 3.397
2012-04-30 0.409 3.364
2012-03-02 0.409 3.442
2012-01-30 0.409 3.451
2011-12-21 0.409 3.458
2011-11-09 0.409 3.564
2011-11-04 0.409 3.620
2011-09-21 0.409 3.821
2011-08-09 0.391 3.746
2011-07-29 0.391 3.382
2011-06-22 0.391 3.198
2011-05-10 0.391 3.278
2011-05-06 0.391 3.262
2011-03-02 0.391 3.300
2011-01-28 0.391 3.199
2010-12-22 0.391 3.081
2010-11-09 0.391 3.287
2010-11-05 0.391 3.375
2010-09-22 0.391 3.516
2010-06-17 0.356 3.174
2010-03-04 0.356 3.192
2009-12-22 0.356 3.266
2009-09-22 0.356 3.159
2009-06-16 0.320 2.738
2009-03-16 0.320 3.262
2008-12-17 0.320 3.350
2008-09-18 0.320 3.325
2008-08-19 0.267 2.768

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First of Long Island's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess First of Long Island's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First of Long Island afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First of Long Island has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of First of Long Island's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Vittorio, image provided by Google.
Michael Vittorio
COMPENSATION $1,669,209
AGE 65
TENURE AS CEO 14.9 years
CEO Bio

Mr. Michael N. Vittorio has been the President and Chief Executive Officer at The First of Long Island Corporation and The First National Bank of Long Island since 2003. Mr. Vittorio served as an Executive Vice President of The First of Long Island Corporation since July 15, 2002. From 1989 to June 2002, he worked at J.P. Morgan Chase and served as a Senior Vice President and was responsible for managing Chase Insurance Agency's Insurance Brokerage and Advisory Service Business. He served in various capacities at J.P. Morgan Chase including Senior Lending Officer for Small Business Financial Services, Middle Market Regional Manager and Division Executive in the Small Business/Commercial Division. He serves as a Director of New York Business Development Corporation. Mr. Vittorio has been a Director of The First of Long Island Corporation and The First National Bank of Long Island, subsidiary of First of Long Island Corporation since February 18, 2003. He serves as the Chairman of New York Bankers Association Long Island Chapter, Trustee of New York Bankers Association Retirement System and New York Law School and Director of New York Bankers Association.

CEO Compensation
  • Michael's compensation has been consistent with company performance over the past year.
  • Michael's compensation is higher than average for a company of this size and profit level.
Management Team Tenure

Average tenure and age of the First of Long Island management team in years:

9.6
Average Tenure
60.5
Average Age
  • The average tenure for the First of Long Island management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Michael Vittorio

TITLE
President
COMPENSATION
$2M
AGE
65
TENURE
14.9 yrs

Mark Curtis

TITLE
Senior EVP
COMPENSATION
$856K
AGE
63

Paul Daley

TITLE
Executive Vice President
COMPENSATION
$668K
AGE
58

Chris Becker

TITLE
Executive VP
COMPENSATION
$547K
AGE
52
TENURE
5.6 yrs

Bill Aprigliano

TITLE
Senior VP & Chief Accounting Officer

Laura Ierulli

TITLE
VP & Director of Marketing
TENURE
14.3 yrs

Donna Kelly

TITLE
Bank Vice President

Donald Manfredonia

TITLE
Executive Vice President
COMPENSATION
$526K
AGE
66

Richard Perro

TITLE
Executive Vice President
AGE
52
TENURE
9.6 yrs

Robert Colosa

TITLE
VP & Chief Auditor
TENURE
6.8 yrs
Board of Directors Tenure

Average tenure and age of the First of Long Island board of directors in years:

15.3
Average Tenure
68
Average Age
  • The average tenure for the First of Long Island board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Walter Teagle

TITLE
Chairman of the Board
COMPENSATION
$182K
AGE
68
TENURE
13.3 yrs

Michael Vittorio

TITLE
President
COMPENSATION
$2M
AGE
65
TENURE
15.3 yrs

Alexander Cover

TITLE
Director
COMPENSATION
$98K
AGE
74
TENURE
15.3 yrs

Milbrey Taylor

TITLE
Director
COMPENSATION
$83K
AGE
71
TENURE
10.6 yrs

Eric Tveter

TITLE
Director
COMPENSATION
$86K
AGE
59
TENURE
4.9 yrs

Howard Hogan

TITLE
Director
COMPENSATION
$82K
AGE
73
TENURE
34.6 yrs

Paul Canarick

TITLE
Director
COMPENSATION
$87K
AGE
61
TENURE
26.3 yrs

Mark Wurzel

TITLE
Member of Business Advisory Board

George Walsh

TITLE
Member of Business Advisory Board

Arthur Ventura

TITLE
Member of Business Advisory Board
Recent Insider Trading
  • First of Long Island insiders have sold more shares than they have bought in the past 3 months.
Who owns this company?
X
Management checks
We assess First of Long Island's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of market cap)? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First of Long Island has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Interested In Financials? Why The First of Long Island Corporation (NASDAQ:FLIC) May Be The Entry Point

operates in the banking industry, … Many aspects of banking and capital markets are being attacked by new competitors, whose key advantage is a leaner and technology-enabled operating model, allowing them to scale at a faster rate and meet changing consumer needs … Financial services analysts are forecasting for the entire industry,

Simply Wall St -

Should You Be Tempted To Buy The First of Long Island Corporation (NASDAQ:FLIC) At Its Current PE Ratio?

and want to learn about the link between company’s fundamentals and stock market performance. … While this makes FLIC appear like a great stock to buy, you might change your mind after I explain the assumptions behind the P/E ratio. … View our latest analysis for First of Long Island

Simply Wall St -

What is Behind The First of Long Island Corporation's (NASDAQ:FLIC) Superior ROE?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … See our latest analysis for First of Long Island

Simply Wall St -

The First of Long Island Corporation (NASDAQ:FLIC): Ex-Dividend Is In 2 Days, Should You Buy?

On the 19 July 2018, The First of Long Island Corporation (NASDAQ:FLIC) will be paying shareholders an upcoming dividend amount of US$0.15 per share. … However, investors must have bought the company's stock before 09 July 2018 in order to qualify for the payment. … Below, I will explain how holding First of Long Island can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes.

Simply Wall St -

What Does The First of Long Island Corporation's (NASDAQ:FLIC) Share Price Indicate?

This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price? … A question to answer is whether First of Long Island's current trading price of $25.25 reflective of the actual value of the? … Let’s take a look at First of Long Island’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Looking At The First of Long Island Corporation (NASDAQ:FLIC) From All Angles

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on The First of Long Island Corporation (NASDAQ:FLIC) due to its excellent fundamentals in more than one area.

Simply Wall St -

Should You Buy The First of Long Island Corporation (NASDAQ:FLIC) For Its Dividend?

The First of Long Island Corporation (NASDAQ:FLIC) has returned to shareholders over the past 10 years, an average dividend yield of 3.00% annually. … Does First of Long Island tick all the boxes of a great dividend stock? … How I analyze a dividend stock

Simply Wall St -

Was The First of Long Island Corporation's (NASDAQ:FLIC) Earnings Growth Better Than The Industry's?

Given that these figures are relatively myopic, I’ve determined an annualized five-year value for First of Long Island's net income, which stands at US$24.93M This shows that, on average, First of Long Island has been able to steadily improve its net income over the past couple of years as well. … This means that any uplift the industry is benefiting from, First of Long Island is able to leverage this to its advantage.What does this mean? … I recommend you continue to research First of Long Island to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for FLIC’s future growth?

Simply Wall St -

At $27, Is It Time To Buy The First of Long Island Corporation (NASDAQ:FLIC)?

The First of Long Island Corporation (NASDAQ:FLIC), operating in the financial services industry based in United States, had a relatively subdued couple of weeks in terms of changes in share price, which continued to float around the range of $27 to $29.45. … This means that the opportunity to buy First of Long Island at a good price has disappeared! … In addition to this, it seems like First of Long Island’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to fall back down to an attractive buying range, and secondly, there may be less chances to buy low in the future once it reaches that value.

Simply Wall St -

Intrinsic Calculation For The First of Long Island Corporation (NASDAQ:FLIC) Shows Investors Are Overpaying

Emphasizing data points such as book values, on top of the return and cost of equity, can be beneficial for evaluating FLIC’s valuation. … The returns above the cost of equity is known as excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (10.64% – 9.91%) * $16.22 = $0.12 We use this value to calculate the terminal value of the company, which is how much we expect the company to continue to earn every year, forever. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = $0.12 / (9.91% – 2.47%) = $1.6 Putting this all together, we get the value of FLIC’s share: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = $16.22 + $1.6 = $17.82 Relative to the present share price of $27, FLIC is currently overvalued.

Simply Wall St -

Company Info

Map
Description

The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to privately owned businesses, professionals, consumers, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as personal and non-personal money market and savings products. The company’s loan portfolio comprises commercial and industrial loans, small business credit scored loans, residential and commercial mortgage loans, home equity lines of credit, construction loans, and commercial and standby letters of credit, as well as auto, home improvement, and other consumer loans. It also offers account reconciliation services, ACH origination, ATM banking and deposit automation, bank by mail, bill payment, cash management services, collection services, controlled disbursement accounts, foreign currency sales and purchases, healthcare remittance automation, debit cards, lock box services, merchant credit card services, and mobile capture services, as well as mutual funds, annuities, and life insurance. In addition, the company provides night depository services, payroll services, personal money orders, remote deposit, safe deposit boxes, securities transactions, signature guarantee services, travelers checks, investment management and trust services, domestic and international wire transfers, and withholding tax depository services, as well as drive-through, mobile, online, and telephone banking services. It operates through a network of 37 full service branches, 10 commercial banking offices and 2 select service banking centers in New York. The First of Long Island Corporation was founded in 1927 and is based in Glen Head, New York.

Details
Name: The First of Long Island Corporation
FLIC
Exchange: NasdaqCM
Founded: 1927
$557,988,096
25,420,870
Website: http://www.fnbli.com
Address: The First of Long Island Corporation
10 Glen Head Road,
Glen Head,
New York, 11545,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM FLIC Common Stock Nasdaq Capital Market US USD 08. Jan 1987
Number of employees
Current staff
Staff numbers
333
First of Long Island employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/08/15 21:23
End of day share price update: 2018/08/15 00:00
Last estimates confirmation: 2018/08/07
Last earnings update: 2018/06/30
Last annual earnings update: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.