FLIC Earnings Prediction
The chart below shows how FLIC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, FLIC sees a -3.27% change in stock price 10 days leading up to the earnings, and a +0.51% change 10 days following the report. On the earnings day itself, the stock moves by +0.01%. This data can give you a slight idea of what to expect for the next quarter's release.
FLIC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
20.11M
-14.02%
1.15%
Gross Margin
--
--
--
Operating Margin
24.25%
-29.16%
1.93%
Net Margin
23.86%
-19.12%
6.95%
EPS
0.21
-32.26%
5.00%
No Data Available
FLIC Earnings Analysis
The First of Long Island Corporation Corporation (FLIC.O) Earnings Conference Call
Positive
Increase in return on assets from 0.42% to 0.45% and return on equity from 4.72% to 5.15%, indicating slight improvements in financial ratios.
Transcript, Janet Verneuille's statement
Improvement in efficiency ratio to 73.6% from 76.5%, a positive trend for the net interest margin stabilization.
Net interest margin increased to 1.8% for the three and six months ended June 30, 2024, indicating positive stability.
CEO Chris Becker mentioned the margin increased after a period of decline.
Strong loan originations with $70 million closed in the second quarter and focus on relationship-based business, highlighting a growth strategy.
CEO Chris Becker's statement on loan originations and their composition.
Growth in non-interest income to $2.9 million in the second quarter, exceeding previous quarters, driven by improvements in service charges and other income streams.
CFO Janet Verneuille's comment on the increase in non-interest income.
Management's strategic move to pay down $143 million of wholesale borrowings, leading to a smaller leveraging of the balance sheet, showcasing financial discipline.
CFO Janet Verneuille mentioned this action in response to deposit and loan growth.
Opening a new branch on the North Fork of Long Island and evaluating prospects for geographic expansion, demonstrating a commitment to future growth opportunities.
CEO Chris Becker's mention of the newly opened branch and the company's expansion plans.
Maintained strong credit quality with low criticized, classified, past due, non-performing, and charge-off levels, indicating robust risk management practices.
CEO Chris Becker highlighted the company's credit quality assessment as strong in the current environment.
Negative
- The net interest margin remained relatively stable at 1.8% for the second quarter of 2024, indicating only a minor improvement from the previous quarter, pointing to challenges in margin growth.
- The company reported a decrease in net income from $6.9 million in the second quarter of the previous year to $4.8 million this year, highlighting a decline in profitability.
- Despite slight improvements, the return on assets and return on equity for the second quarter of 2024 remained relatively low at 0.45% and 5.15% respectively, signaling challenges in asset and equity utilization efficiency.
- The provision for loan losses increased by $570,000 in the second quarter of 2024, potentially indicating concerns about credit quality or default risks within the loan portfolio.
- The net interest margin of 1.8% for the second quarter of 2024 was down from 2.17% for the same quarter last year, showing a continued decline in interest income generation efficiency over time.
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FLIC Earning Call Sentiment
The First of Long Island Corporation (FLIC) Q2 2024 Earnings Call Transcript
1.0x
00:00
00:00
FLIC.O
-1.16%Positive
The earnings call reflects mixed signals: improved quarter-over-quarter metrics like ROA, ROE, and efficiency ratio, but also challenges such as decreased net income YoY and an uptick in non-performing loans. The Q&A highlights management's cautious optimism but lacks clarity on certain issues. Overall, the company's financial health shows stability, yet the absence of strong catalysts or partnerships tempers expectations. Considering these factors, the stock price is likely to remain stable, resulting in a neutral prediction.
