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First of Long Island

Nasdaq:FLIC
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FLIC
Nasdaq
$534M
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 small and medium-sized businesses, professionals, consumers, public bodies, and other organizations. The last earnings update was 37 days ago. More info.


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FLIC Share Price and Events
7 Day Returns
-0%
NasdaqCM:FLIC
1.1%
US Banks
0.5%
US Market
1 Year Returns
-15.6%
NasdaqCM:FLIC
-8%
US Banks
0.8%
US Market
FLIC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First of Long Island (FLIC) -0% -3.9% -6.6% -15.6% 6.7% 24.1%
US Banks 1.1% -0.6% -2.8% -8% 46.4% 40.3%
US Market 0.5% -0.1% 1% 0.8% 37.5% 37.5%
1 Year Return vs Industry and Market
  • FLIC underperformed the Banks industry which returned -8% over the past year.
  • FLIC underperformed the Market in United States of America which returned 0.8% over the past year.
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 5 analysts.
= Stable Book Value * Return on Equity
= $16.78 * 10.8%
$1.82
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. $16.78
Discount Rate (Cost of Equity) See below 8.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 21%) (97.46%))
1.033
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.033 * 5.96%)
8.88%

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)
= (10.8% – 8.88%) * $16.78)
$0.32
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.32 / (8.88% - 2.73%)
$5.27
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $16.78 + $5.27
$22.05
NasdaqCM:FLIC Discount to Share Price
Calculation Result
Value per share (USD) From above. $22.05
Current discount Discount to share price of $21.44
= -1 x ($21.44 - $22.05) / $22.05
2.8%

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

Current Discount
Amount off the current price First of Long Island is available for.
Intrinsic value
3%
Share price is $21.44 vs Future cash flow value of $22.05
Current Discount Checks
For First of Long Island to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • First of Long Island's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • First of Long Island's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 (2019-03-31) in USD $1.62
NasdaqCM:FLIC Share Price ** NasdaqCM (2019-06-14) in USD $21.44
United States of America Banks Industry PE Ratio Median Figure of 600 Publicly-Listed Banks Companies 12.67x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.69x

* 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)

= 21.44 ÷ 1.62

13.2x

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

  • First of Long Island is overvalued 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 13.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
0.7%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.37x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*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

= 13.2x ÷ 0.7%

19.78x

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 (2019-03-31) in USD $15.52
NasdaqCM:FLIC Share Price * NasdaqCM (2019-06-14) in USD $21.44
United States of America Banks Industry PB Ratio Median Figure of 603 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NasdaqCM:FLIC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 21.44 ÷ 15.52

1.38x

* 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 1/6, 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 5 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
0.7%
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 2.7%.
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 5 Analysts 0.7%
NasdaqCM:FLIC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2.8%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.8%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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 (2 months ago) See Below
Future Estimates Average of up to 5 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
2020-12-31 115 43 5
2019-12-31 112 43 5
NasdaqCM:FLIC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 109 58 41
2018-12-31 107 59 41
2018-09-30 101 55 39
2018-06-30 103 54 38
2018-03-31 103 47 37
2017-12-31 101 47 35
2017-09-30 99 43 35
2017-06-30 95 43 34
2017-03-31 95 43 32
2016-12-31 94 36 31
2016-09-30 90 36 30
2016-06-30 87 34 28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First of Long Island's earnings are expected to grow by 0.7% yearly, however this is not considered high growth (20% yearly).
  • First of Long Island's revenue is expected to grow by 2.8% 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 (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from First of Long Island Company Filings, last reported 2 months 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 1.74 1.83 1.60 5.00
2019-12-31 1.72 1.78 1.69 5.00
NasdaqCM:FLIC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.62
2018-12-31 1.64
2018-09-30 1.55
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

*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.
  • Unable to establish if First of Long Island will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
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 is less than its 5-year average (11.4% vs 14.1%)
  • First of Long Island's earnings growth has not exceeded the US Banks industry average in the past year (11.4% vs 39.5%).
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 2 months 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
2019-03-31 108.77 41.23 49.73
2018-12-31 107.39 41.46 49.57
2018-09-30 100.91 38.94 47.19
2018-06-30 102.72 38.21 46.45
2018-03-31 102.92 37.02 45.77
2017-12-31 101.31 34.99 44.33
2017-09-30 98.95 34.95 42.71
2017-06-30 95.46 33.60 41.39
2017-03-31 95.14 32.20 40.29
2016-12-31 94.20 30.75 40.45
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

*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 less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First of Long Island improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
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 1/6, 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 2 months ago.

NasdaqCM:FLIC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 386.44 520.32 44.02
2018-12-31 388.19 752.08 14.22
2018-09-30 380.27 695.20 50.74
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 69.67
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
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
3.17%
Current annual income from First of Long Island dividends. Estimated to be 3.25% next year.
If you bought $2,000 of First of Long Island shares you are expected to receive $63 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 (3.71%).
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 5 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 478 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
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 3.7%

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 0.70 5.00
2019-12-31 0.69 5.00
NasdaqCM:FLIC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-01 0.680 3.039
2019-01-30 0.680 3.065
2018-09-28 0.680 3.297
2018-06-29 0.600 2.632
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

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 (2.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
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 4/6, 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
COMPENSATION $1,891,844
AGE 65
TENURE AS CEO 15.8 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, both up more than 20%.
  • Michael's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

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

9
Average Tenure
58
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
15.8 yrs

Mark Curtis

TITLE
Senior EVP
COMPENSATION
$788K
AGE
63

Paul Daley

TITLE
Executive Vice President
COMPENSATION
$551K
AGE
58

Chris Hilton

TITLE
Executive VP & Commercial Banking Division - Executive
COMPENSATION
$515K
AGE
41
TENURE
1.4 yrs

Chris Becker

TITLE
Corporate Secretary
COMPENSATION
$675K
AGE
52

Bill Aprigliano

TITLE
Senior VP & Chief Accounting Officer

Donald Manfredonia

TITLE
Executive Vice President
COMPENSATION
$526K
AGE
66

Richard Perro

TITLE
Executive Vice President
AGE
52
TENURE
10.4 yrs

Robert Colosa

TITLE
VP & Chief Auditor
TENURE
7.6 yrs

Anne Stefanucci

TITLE
Executive Vice President
AGE
58
Board of Directors Tenure

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

16.2
Average Tenure
66.5
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
$185K
AGE
68
TENURE
14.1 yrs

Michael Vittorio

TITLE
President
COMPENSATION
$2M
AGE
65
TENURE
16.2 yrs

Alexander Cover

TITLE
Director
COMPENSATION
$100K
AGE
74
TENURE
16.2 yrs

Milbrey Taylor

TITLE
Director
COMPENSATION
$88K
AGE
71
TENURE
11.4 yrs

Eric Tveter

TITLE
Director
COMPENSATION
$84K
AGE
59
TENURE
5.8 yrs

Howard Hogan

TITLE
Director
COMPENSATION
$84K
AGE
73
TENURE
41.4 yrs

Paul Canarick

TITLE
Director
COMPENSATION
$89K
AGE
61
TENURE
27.2 yrs

Mark Wurzel

TITLE
Member of Business Advisory Board

Sal Turano

TITLE
Member of Business Advisory Board

Craig Treiber

TITLE
Member of Business Advisory Board
AGE
64
Who owns this company?
Recent Insider Trading
  • First of Long Island insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. May 19 Sell Michael Vittorio Individual 10. May 19 10. May 19 -3,000 $22.60 $-67,805
06. Feb 19 Sell Michael Vittorio Individual 05. Feb 19 05. Feb 19 -3,000 $21.12 $-63,373
11. Dec 18 Buy Alexander Cover Individual 07. Dec 18 07. Dec 18 1,000 $19.59 $19,590
30. Nov 18 Sell Donald Manfredonia Individual 29. Nov 18 29. Nov 18 -3,772 $21.08 $-79,514
05. Nov 18 Buy Denise Strain Individual 01. Nov 18 01. Nov 18 1,000 $20.42 $20,425
02. Nov 18 Sell Michael Vittorio Individual 01. Nov 18 01. Nov 18 -3,000 $20.51 $-61,537
03. Aug 18 Buy John Desmond Individual 02. Aug 18 02. Aug 18 4,350 $22.79 $99,154
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? (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

Simply Wall St News

Did The First of Long Island Corporation (NASDAQ:FLIC) Insiders Sell Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in The First of Long Island Corporation (NASDAQ:FLIC). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' Check out our latest analysis for First of Long Island The Last 12 Months Of Insider Transactions At First of Long Island John Desmond made the biggest insider purchase in the last 12 months. … Insiders at First of Long Island Have Sold Stock Recently The last three months saw significant insider selling at First of Long Island.

Simply Wall St -

Should We Worry About The First of Long Island Corporation's (NASDAQ:FLIC) P/E Ratio?

We'll look at The First of Long Island Corporation's (NASDAQ:FLIC) P/E ratio and reflect on what it tells us about the company's share price. … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for First of Long Island: P/E of 13.43 = $21.82 ÷ $1.62 (Based on the year to March 2019.) Is A High P/E Ratio Good? … The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings.

Simply Wall St -

Could The First of Long Island Corporation's (NASDAQ:FLIC) Investor Composition Influence The Stock Price?

Every investor in The First of Long Island Corporation (NASDAQ:FLIC) should be aware of the most powerful shareholder groups. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … First of Long Island is not a large company by global standards.

Simply Wall St -

First of Long Island (NASDAQ:FLIC) Shareholders Booked A 32% Gain In The Last Five Years

Unfortunately for shareholders, while the The First of Long Island Corporation (NASDAQ:FLIC) share price is up 32% in the last five years, that's less than the market return. … Unfortunately the share price is down 16% in the last year. … Over half a decade, First of Long Island managed to grow its earnings per share at 9.5% a year.

Simply Wall St -

Why The First of Long Island Corporation (NASDAQ:FLIC) May Not Be As Risky Than You Think

As a small-cap bank with a market capitalisation of US$559m, The First of Long Island Corporation’s (NASDAQ:FLIC) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting First of Long Island’s bottom line. … Today we will analyse First of Long Island’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

Is The First of Long Island Corporation (NASDAQ:FLIC) A Smart Pick For Income Investors?

The company currently pays out a dividend yield of 3.0% to shareholders, making it a relatively attractive dividend stock. … Does First of Long Island tick all the boxes of a great dividend stock? … View our latest analysis for First of Long Island

Simply Wall St -

3 Days Left Before The First of Long Island Corporation (NASDAQ:FLIC) Will Be Trading Ex-Dividend

Important news for shareholders and potential investors in The First of Long Island Corporation (NASDAQ:FLIC): The dividend payment of US$0.17 per share will be distributed to shareholders on 20 March 2019, and the stock will begin trading ex-dividend at an earlier date, 11 March 2019. … Well, keep on reading because today, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … 5 questions to ask before buying a dividend stock?

Simply Wall St -

Is The First of Long Island Corporation's (NASDAQ:FLIC) High P/E Ratio A Problem For Investors?

To keep it practical, we'll show how The First of Long Island Corporation's (NASDAQ:FLIC) P/E ratio could help you assess the value on offer. … Based on the last twelve months, First of Long Island's P/E ratio is 14.14. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

What You Should Know About The First of Long Island Corporation’s (NASDAQ:FLIC) Liquidity

These reforms target bank level regulation and aims to improve the banking sector’s ability to absorb shocks arising from economic stress which could expose financial institutions to vulnerabilities. … Unpredictable macro events such as political instability could weaken its financial position which is why it is important to understand how well the bank manages its risk levels. … Today we will be measuring First of Long Island’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Is The First of Long Island Corporation (NASDAQ:FLIC) Excessively Paying Its CEO?

In 2003 Michael Vittorio was appointed CEO of The First of Long Island Corporation (NASDAQ:FLIC). … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Michael Vittorio's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Company Info

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 small and medium-sized 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 money market 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 51 branches, including 6 full-service branches in Queens, 3 in Brooklyn, and 2 commercial banking offices in Manhattan. The First of Long Island Corporation was founded in 1927 and is headquartered in Glen Head, New York.

Details
Name: The First of Long Island Corporation
FLIC
Exchange: NasdaqCM
Founded: 1927
$533,873,430
24,900,813
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
344
First of Long Island employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 23:36
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/12
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.