Oritani Financial Corp. (NASDAQ:ORIT) has been given an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Analysts have set a 1 year consensus target price of $15.50 for the company and are predicting that the company will post $0.27 EPS for the current quarter, according to Zacks. Zacks has also assigned Oritani Financial an industry rank of 110 out of 256 based on the ratings given to related companies.
ORIT has been the subject of a number of research reports. BidaskClub upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. ValuEngine upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. TheStreet downgraded shares of Oritani Financial from a “b” rating to a “c+” rating in a report on Tuesday, November 6th. Finally, Zacks Investment Research downgraded shares of Oritani Financial from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in Oritani Financial by 7.6% in the second quarter. Bank of America Corp DE now owns 49,765 shares of the bank’s stock valued at $806,000 after purchasing an additional 3,509 shares during the period. Teachers Advisors LLC lifted its position in shares of Oritani Financial by 0.6% during the third quarter. Teachers Advisors LLC now owns 699,783 shares of the bank’s stock worth $10,882,000 after purchasing an additional 4,189 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Oritani Financial by 5.4% during the second quarter. Legal & General Group Plc now owns 84,130 shares of the bank’s stock worth $1,363,000 after purchasing an additional 4,329 shares in the last quarter. Swiss National Bank lifted its position in shares of Oritani Financial by 11.0% during the second quarter. Swiss National Bank now owns 75,700 shares of the bank’s stock worth $1,226,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Oritani Financial during the third quarter worth $124,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.
ORIT traded up $0.17 during midday trading on Tuesday, reaching $15.38. 309 shares of the company’s stock were exchanged, compared to its average volume of 161,850. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.93. The stock has a market cap of $671.02 million, a P/E ratio of 13.23 and a beta of 0.48. Oritani Financial has a 1-year low of $14.07 and a 1-year high of $17.30.
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 analysts’ consensus estimates of $0.29 by ($0.02). The business had revenue of $27.12 million for the quarter, compared to analyst estimates of $27.50 million. Oritani Financial had a return on equity of 9.57% and a net margin of 28.23%. As a group, analysts forecast that Oritani Financial will post 1.1 EPS for the current fiscal year.
The company also recently declared a special dividend, which was paid on Friday, December 21st. Stockholders of record on Friday, December 7th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, December 6th. This represents a dividend yield of 6.57%. Oritani Financial’s dividend payout ratio (DPR) is presently 86.96%.
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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