Oritani Financial Corp. (ORIT) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Oritani Financial Corp. (NASDAQ:ORIT) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Brokers have set a 12 month consensus price target of $17.25 for the company and are predicting that the company will post $0.28 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Oritani Financial an industry rank of 178 out of 265 based on the ratings given to its competitors.
Several research firms have weighed in on ORIT. BidaskClub lowered shares of Oritani Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 9th. ValuEngine lowered shares of Oritani Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th.
Hedge funds have recently modified their holdings of the company. Gradient Investments LLC acquired a new position in shares of Oritani Financial in the 4th quarter worth approximately $150,000. Stone Ridge Asset Management LLC acquired a new position in shares of Oritani Financial in the 4th quarter worth approximately $174,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Oritani Financial in the 3rd quarter worth approximately $185,000. Teacher Retirement System of Texas acquired a new position in shares of Oritani Financial in the 4th quarter worth approximately $218,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Oritani Financial by 58.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,460 shares of the bank’s stock worth $243,000 after acquiring an additional 5,360 shares during the last quarter. Hedge funds and other institutional investors own 63.50% of the company’s stock.
Oritani Financial (NASDAQ:ORIT) traded up $0.10 during trading hours on Monday, reaching $15.95. 748,016 shares of the company’s stock traded hands, compared to its average volume of 186,903. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.99. The firm has a market cap of $734.19, a price-to-earnings ratio of 16.61 and a beta of 0.42. Oritani Financial has a 12 month low of $15.30 and a 12 month high of $17.75.
Oritani Financial (NASDAQ:ORIT) last posted its earnings results on Monday, January 29th. The bank reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $28.19 million for the quarter, compared to analyst estimates of $28.80 million. Oritani Financial had a net margin of 26.13% and a return on equity of 10.96%. sell-side analysts anticipate that Oritani Financial will post 1.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.27%. This is a positive change from Oritani Financial’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, February 8th. Oritani Financial’s payout ratio is presently 104.17%.
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About Oritani Financial
Oritani Financial Corp. is a holding company for Oritani Bank (the Bank). The Bank offers a range of retail and commercial loan and deposit products. The Bank operates in the New Jersey Counties of Bergen, Hudson, Essex and Passaic. The Bank’s loan portfolio includes residential loans, residential commercial real estate loans, credit or grocery retail commercial real estate loans, other commercial real estate loans, and construction and land loans.
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