NasdaqCM:FLIC

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Flawless balance sheet average dividend payer.


Similar Companies

Share Price & News

How has First of Long Island's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.6%

FLIC

4.1%

US Banks

1.0%

US Market


1 Year Return

15.2%

FLIC

7.2%

US Banks

8.0%

US Market

Return vs Industry: FLIC exceeded the US Banks industry which returned 7.2% over the past year.

Return vs Market: FLIC exceeded the US Market which returned 8% over the past year.


Shareholder returns

FLICIndustryMarket
7 Day2.6%4.1%1.0%
30 Day0.7%2.8%-0.07%
90 Day9.2%2.9%-1.0%
1 Year18.9%15.2%10.3%7.2%10.4%8.0%
3 Year15.8%7.3%53.9%43.3%46.2%36.7%
5 Year66.8%46.2%71.9%53.1%64.3%46.2%

Price Volatility Vs. Market

How volatile is First of Long Island's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First of Long Island undervalued compared to its fair value and its price relative to the market?

14.11x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FLIC ($23.29) is trading above our estimate of fair value ($22.32)

Significantly Below Fair Value: FLIC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FLIC is poor value based on its PE Ratio (14.1x) compared to the Banks industry average (12.6x).

PE vs Market: FLIC is good value based on its PE Ratio (14.1x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: FLIC is poor value based on its PEG Ratio (17x)


Price to Book Ratio

PB vs Industry: FLIC is overvalued based on its PB Ratio (1.5x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

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

0.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FLIC's forecast earnings growth (0.8% per year) is below the savings rate (2.7%).

Earnings vs Market: FLIC's earnings (0.8% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: FLIC's earnings are forecast to grow, but not significantly.

Revenue vs Market: FLIC's revenue (2.3% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: FLIC's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FLIC's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

13.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: FLIC's earnings have grown by 13.9% per year over the past 5 years.

Accelerating Growth: FLIC's earnings growth over the past year (9.1%) is below its 5-year average (13.9% per year).

Earnings vs Industry: FLIC earnings growth over the past year (9.1%) underperformed the Banks industry 30.1%.


Return on Equity

High ROE: FLIC's Return on Equity (10.7%) is considered low.


Return on Assets

ROA vs Industry: FLIC's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate FLIC's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FLIC has a low level of unsold assets or inventory.

Debt Coverage by Assets: FLIC's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: FLIC's level of assets compared to its equity is moderate.

Allowance for Bad Loans: FLIC has a sufficient allowance for bad loans.

Low Risk Liabilities: FLIC's liabilities are made up of primarily low risk sources of funding.

Loan Level: FLIC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FLIC's loans are broadly funded by customer deposits.

Level of Bad Loans: FLIC has an appropriate level of bad loans (0.08%)


Next Steps

Dividend

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

3.09%

Current Dividend Yield


Dividend Yield vs Market

company3.1%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Years3.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: FLIC's dividend (3.09%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: FLIC's dividend (3.09%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: FLIC's dividends per share have been stable in the past 10 years.

Growing Dividend: FLIC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.2%), FLIC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

9.3yrs

Average management tenure


CEO

Michael Vittorio (66yo)

16.1yrs

Tenure

US$1,891,844

Compensation

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 ...


CEO Compensation Analysis

Compensation vs. Market: Michael's total compensation ($USD1.89M) is about average for companies of similar size in the US market ($USD1.82M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.


Management Age and Tenure

9.3yrs

Average Tenure

59yo

Average Age

Experienced Management: FLIC's management team is seasoned and experienced (9.3 years average tenure).


Board Age and Tenure

16.5yrs

Average Tenure

67.5yo

Average Age

Experienced Board: FLIC's board of directors are seasoned and experienced ( 16.5 years average tenure).


Insider Trading

Insider Buying: FLIC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$63,37819 Aug 19
Michael Vittorio
EntityIndividual
Role
Chief Executive Officer
President
Shares3,000
Max PriceUS$21.13
SellUS$67,80513 May 19
Michael Vittorio
EntityIndividual
Role
Chief Executive Officer
President
Shares3,000
Max PriceUS$22.60
SellUS$63,37306 Feb 19
Michael Vittorio
EntityIndividual
Role
Chief Executive Officer
President
Shares3,000
Max PriceUS$21.12
BuyUS$19,59011 Dec 18
Alexander Cover
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$19.59
SellUS$79,51430 Nov 18
Donald Manfredonia
EntityIndividual
Role
Senior Key Executive
Executive Vice President
Shares3,772
Max PriceUS$21.08
BuyUS$20,42505 Nov 18
Denise Strain
EntityIndividual
Shares1,000
Max PriceUS$20.42
SellUS$61,53702 Nov 18
Michael Vittorio
EntityIndividual
Role
Chief Executive Officer
President
Shares3,000
Max PriceUS$20.51

Ownership Breakdown


Management Team

  • Mark Curtis (64yo)

    Senior EVP

    • Tenure: 0yrs
    • Compensation: US$788.26k
  • Donald Manfredonia (67yo)

    Executive Vice President

    • Tenure: 0yrs
    • Compensation: US$206.23k
  • Chris Becker (53yo)

    Executive VP

    • Tenure: 0yrs
    • Compensation: US$675.35k
  • Michael Vittorio (66yo)

    President

    • Tenure: 16.1yrs
    • Compensation: US$1.89m
  • Paul Daley (59yo)

    Executive Vice President

    • Tenure: 0yrs
    • Compensation: US$551.17k
  • Richard Perro (53yo)

    Executive Vice President

    • Tenure: 10.8yrs
  • Anne Stefanucci (59yo)

    Executive Vice President

    • Tenure: 0yrs
  • Chris Hilton (42yo)

    Executive VP & Commercial Banking Division - Executive

    • Tenure: 1.8yrs
    • Compensation: US$514.99k
  • Robert Colosa

    VP & Chief Auditor

    • Tenure: 7.9yrs
  • Bill Aprigliano

    Senior VP & Chief Accounting Officer

    • Tenure: 0yrs

Board Members

  • Walter Teagle (69yo)

    Chairman of the Board

    • Tenure: 14.4yrs
    • Compensation: US$184.76k
  • Howard Hogan (74yo)

    Independent Director

    • Tenure: 41.8yrs
    • Compensation: US$84.45k
  • Paul Canarick (62yo)

    Independent Director

    • Tenure: 27.5yrs
    • Compensation: US$89.34k
  • Eric Tveter (60yo)

    Independent Director

    • Tenure: 6.1yrs
    • Compensation: US$84.00k
  • Michael Vittorio (66yo)

    President

    • Tenure: 16.1yrs
    • Compensation: US$1.89m
  • Alexander Cover (75yo)

    Independent Director

    • Tenure: 16.5yrs
    • Compensation: US$100.25k
  • Mark Wurzel

    Member of Business Advisory Board

    • Tenure: 0yrs
  • Sal Turano

    Member of Business Advisory Board

    • Tenure: 0yrs
  • Craig Treiber (65yo)

    Member of Business Advisory Board

    • Tenure: 0yrs
  • Milbrey Taylor (72yo)

    Independent Director

    • Tenure: 11.8yrs
    • Compensation: US$87.75k

Company Information

The First of Long Island Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: The First of Long Island Corporation
  • Ticker: FLIC
  • Exchange: NasdaqCM
  • Founded: 1927
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$574.588m
  • Shares outstanding: 24.67m
  • Website: https://www.fnbli.com

Number of Employees


Location

  • The First of Long Island Corporation
  • 10 Glen Head Road
  • Glen Head
  • New York
  • 11545
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FLICNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJan 1987

Biography

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, consume ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 23:38
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.