Oritani Financial Corp. (ORIT) Receives Consensus Rating of “Hold” from Brokerages

Oritani Financial Corp. (NASDAQ:ORIT) has been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Brokers have set a one year consensus price target of $15.50 for the company and are anticipating that the company will post $0.27 earnings per share for the current quarter, according to Zacks. Zacks has also given Oritani Financial an industry rank of 114 out of 257 based on the ratings given to its competitors.

ORIT has been the topic of a number of research reports. BidaskClub lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. ValuEngine lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th.

Shares of ORIT stock opened at $14.90 on Thursday. Oritani Financial has a 1 year low of $14.24 and a 1 year high of $17.70. The firm has a market cap of $694.64 million, a P/E ratio of 12.96 and a beta of 0.46. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.23 and a current ratio of 1.21.

Oritani Financial (NASDAQ:ORIT) last announced its earnings results on Monday, October 29th. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.02). Oritani Financial had a return on equity of 9.57% and a net margin of 28.23%. The company had revenue of $27.12 million for the quarter, compared to the consensus estimate of $27.50 million. Analysts predict that Oritani Financial will post 1.1 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Friday, November 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date is Thursday, November 8th. Oritani Financial’s dividend payout ratio (DPR) is currently 86.96%.

In related news, Director James J. Doyle, Jr. bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average price of $14.48 per share, with a total value of $28,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philip Wyks sold 7,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $15.97, for a total transaction of $111,790.00. The disclosure for this sale can be found here. Insiders own 10.19% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Aperio Group LLC increased its holdings in Oritani Financial by 26.6% in the 2nd quarter. Aperio Group LLC now owns 65,719 shares of the bank’s stock valued at $1,065,000 after buying an additional 13,789 shares during the period. BlueMountain Capital Management LLC increased its holdings in Oritani Financial by 117.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 21,606 shares of the bank’s stock valued at $350,000 after buying an additional 11,661 shares during the period. Principal Financial Group Inc. increased its holdings in Oritani Financial by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 301,785 shares of the bank’s stock valued at $4,632,000 after buying an additional 7,418 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Oritani Financial by 11.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 357,385 shares of the bank’s stock valued at $5,558,000 after buying an additional 37,058 shares during the period. Finally, Millennium Management LLC increased its holdings in Oritani Financial by 584.5% in the 1st quarter. Millennium Management LLC now owns 290,128 shares of the bank’s stock valued at $4,453,000 after buying an additional 247,745 shares during the period. 63.23% of the stock is currently owned by hedge funds and other institutional investors.

About Oritani Financial

Oritani Financial Corp. operates as a savings and loan holding company for Oritani Bank that provides various banking services for individual and corporate customers. The company accepts a range of deposit products, such as non-interest and interest-bearing demand and NOW checking accounts, money market deposit accounts, savings accounts, retirement accounts, and time deposits.

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