Added to YB: 2023-06-20
Pitch date: 2023-06-20
FLIC [bullish]
The First of Long Island Corporation
+9.61%
current return
Author Info
No bio for this author
Company Info
As of June 2, 2025, The First of Long Island Corporation was acquired by ConnectOne Bancorp, Inc. The First of Long Island Corporation operates as a bank holding company for The First National Bank of Long Island that provides financial services to small and medium market businesses, professional service firms, not-for-profits, municipalities, and consumers in the United States.
Market Cap
$269.2M
Pitch Price
$10.83
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
16.49
EV/Sales
N/A
Sector
Banks
Category
value
First of Long Island (FLIC)
FLIC (new position): LI regional bank at sub-7x P/E, 0.8x book, 6.7% yield. Grew deposits 8%/loans 11% CAGR over decade, 10.7% median ROE. Deposits only -2% in Q1 despite regional bank selloff crushing stock from $30 (2018) to $12. 70% resi loans, sticky checking. Target high $20s (~12-14x EPS, 1.5x TBV), mid-20% annualized returns.
Read full article (3 min)