Daily Stock Analysis: First Of Long Island Corporation

First of Long Island Corporation is known by the ticker symbol FLIC and is listed in the financial services sector as a regional bank. This is my first report on First Long Island Corporation. However I reported on FLIC on June 3, and August 5, 2021, for Vista, my Sixth dog of the week portfolio.

First of Long Island Corp is a holding company that provides financial services. It offers services of saving account, current account, and capital gain accounts. 

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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 of Long Island Corporation (FLIC):

(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 of Long Island's price per share was $20.96 as of yesterday's market close. One year ago its price was $15.14 So the FLIC share price increased by over 45% in the past year.

If FLIC stock trades in the range of $15.00 to $25.00 this next year, its recent $20.96 price might rise by $2.04 to reach $23.00 by October 6, 2022. My estimate is $0.33 under the median of annual price upsides calculated by 3 brokerage analysts tracking the stock.

FLIC Dividends

First of Long Island's most recent regular quarterly dividend payout of  $0.20  will pay out Monday, October 18 to shareholders of record October 7th. That quarterly payout of $0.20 equates to $0.80 annually and yields 3.82% based on yesterday's $20.96 closing price. First of Long Island Corp has paid annually increasing dividends for twenty-five years. 

FLIC Returns

Adding the $0.80 annual First of Long Island forward-looking dividend to my $2.04 price upside estimate shows a $2.84 potential gross gain, per share, to be reduced by any costs to trade FLIC shares.  

At yesterday's $20.96 price per share, a little over $1000 would buy 48 shares.

A $10 broker fee (if charged) would be paid half at purchase and half at sale and might cost us  $0.21 per share.

Subtract that maybe $0.21 brokerage cost from my estimated $2.84 gross gain per share results in a net gain of $2.63 X 48 shares = $126.24 for a 12.62% net gain on a $1.006.08 investment.

So it is that  First of Long Island Corporation (FLIC) shows a possible 12.62% net gain including a 3.82% forward estimated dividend yield. 

Over the next year at this time, a $1000 investment in First of Long Island Corporation (FLIC)  could generate $38.20 in cash dividends alone. And a single share bought at yesterday's closing price was $20.96! Thus, FLIC's share price is $17.24 less than the dividend income from $1K invested. So, according to my dogcatcher ideal, now is the time to pickup FLICshares. The dividend from $1k invested is $17.24 greater than the single share price. Consider yourself alerted. 

All of the estimates above are speculation based on the past history of First of Long Island Corporation (FLIC). Only time and money invested in this stock will determine its market value.

Disclaimer:  This article is for informational and educational purposes only and should not be construed to constitute investment advice. Nothing contained herein shall constitute a ...

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