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First Long Island Corp has the ticker symbol FLIC and is a small-cap member of the financial services sector as a regional bank. This is my first report on First Long Island Corp for this Vista folio. It was previously reviewed for my earlier portfolios.

First of Long Island Corp is a holding company which provides financial services. 

It offers services of saving account, current account, and capital gain accounts. The company also provides lending services, such as commercial and residential mortgage loans, industrial loans, small business credit scored loans, and other credit facilities. In addition, the company provides account reconciliation services, ATM Banking, bill payment, cash management services, mobile banking, online banking, and payroll services to privately owned businesses, professionals, consumers, and public bodies. 

Revenue earned by the company mainly consists of the interest on loans and investment securities, fees on deposit accounts, and income from investment management.

It operates through a network of 46 branches, including 19 branches in Nassau, 17 in Suffolk, 6 in Queens, 3 in Brooklyn, and 1 in Manhattan. The First of Long Island Corporation was founded in 1927 and is headquartered in Glen Head, New York.

Three key data points gauge dividend equities or funds like First Long Island Corp:

(1) Price

(2) Dividends

(3) Returns

Those three basic keys best tell whether any company has made, is making, and will make money. 

FLIC Price

First Long Island's price per share closed at $22.10 yesterday. One year ago its price was $15.55. Thus, price per share grew over 42% year over year as it recovered from the Covid doldrums. 

Should FLIC's stock trade in the range of $12 to $25.00 this next year, its recent $22.10 price might rise by $1.90 to reach $20 by June 3, 2022. My estimate is $0.33  above the median of FLIC's four analyst 1yr price estimates. 

FLIC Dividends

First Long Island's most recent quarterly dividend of $0.19 was paid on March 19th and equates to $0.76 annually which will yield 3.44% based on yesterday's $22.10 closing price. FLIC has paid quarterly dividends increasing annually since 1996 (25 years.)

FLIC Returns

Adding the $0.76 annual First Long Island forward-looking dividend to my $1.90 price upside estimate shows a $2.66 potential gross gain, per share, to be reduced by any costs to trade the shares.  Say we invest a little under  $1000 in FLIC at $22.10 per share, we'd buy 45 shares.

A $10 broker fee (if charged) would be paid half at purchase and half at a sale and might cost us about $0.22 per share.

Subtract that maybe $0.22 brokerage cost from my estimated $2.66 gross gain per share results in a net gain of $2.44 X 45 shares = $109.80 for a 10.9% net gain on a $994.50 investment.

So it is that First Long Island Corp shows a possible 10.9% net gain including a 3.44% forward estimated dividend yield. 

Over the next year at this time, a $1000 investment in FLIC would generate $34.40 in cash dividends. And a single share bought at yesterday's closing price was $22.10! So, if FLIC is your kind of regional bank investment, First Long Island Corp's share price is about $12 below the expected annual dividend income from $1,000 invested. This suggests that now is a good time to add First Long Island Corp to your stock holdings. 

All of the estimates above are speculation based on the past history of First Long Island Corp. Only time and money invested in this stock will determine its true worth.