Image Source: Pixabay

First of Long Island Corp is known by the trading ticker symbol, FLIC. It is included in the Financial Services sector as a is a Regional Bank. This is my second report on First of Long Island for my Vista stock Portfolio. I last reported on this bank on June 3, 2021.

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

It offers services of saving accounts, current accounts, 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 of 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 of Long Island Corp's price per share was $21.23 as of yesterday's market close. One year ago its price was $14.96. So FLIC's share price has increased about 42% in the past year. 

If First of Long Island stock trades in the range of $14 to $24 this next year, its recent $21.23 price might rise by $1.77 to reach $23.00 by August 5, 2022. My estimate is $0.50 under the median of one-year price targets from four analysts covering FLIC for brokerages. 

FLIC Dividends

First of Long Island's most recent regular quarterly dividend payout of  $0.19 was paid July 16th and projects an annual payout of $0.76per share to yield 3.58% based on yesterday's $21.23 closing price. FLIC has paid quarterly dividends increasing annually for 25 years.

FLIC Returns

Adding the $0.76 annual FLIC forward-looking dividend to my $1.77 price upside estimate shows a $2.63 potential gross gain, per share, to be reduced by any costs to trade First of Long Island Corp shares.  

At yesterday's $21.23 price per share, a little under $1000 would buy 47 shares.

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

Subtract that maybe $0.21 brokerage cost from my estimated $2.63 gross gain per share results in a net gain of $2.42 X 47 shares = $113.74 for an 11.375% net gain on a $997.81 investment.

So it is that First of Long Island Corp shows a possible 11.375% net gain including a 3.58% forward estimated dividend yield. 

Over the next year at this time a $1000 investment in First of Long Island Corp could generate $35.80 in cash dividends alone. And a single share bought at yesterday's closing price was $21.23! Thus, FLIC share price is now about 59% of the dividend income from $1K invested. So, according to my dividend dogcatcher ideal, this is a good time to pick up First of Long Island Corp shares because the dividend from $1k invested exceeds the single share price by 41%. Consider yourself alerted.   

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