Shares of Oritani Financial Corp. (NASDAQ:ORIT) have received an average 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 recommendation.
Analysts have set a twelve-month consensus price objective of $17.00 for the company and are predicting 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 183 out of 256 based on the ratings given to its competitors.
ORIT has been the subject of a number of recent analyst reports. BidaskClub upgraded Oritani Financial from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. Zacks Investment Research lowered Oritani Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th.
In other news, insider Ann Jetton sold 16,000 shares of Oritani Financial stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $17.95, for a total value of $287,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith Schumacher-Tilton bought 5,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was purchased at an average price of $17.03 per share, with a total value of $85,150.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 72,213 shares of company stock valued at $1,264,156. Insiders own 10.19% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ORIT. Bank of New York Mellon Corp grew its position in shares of Oritani Financial by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 643,863 shares of the bank’s stock worth $10,012,000 after acquiring an additional 25,810 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in Oritani Financial by 60.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 27,020 shares of the bank’s stock valued at $420,000 after purchasing an additional 10,163 shares during the period. AQR Capital Management LLC boosted its position in Oritani Financial by 14.6% during the 3rd quarter. AQR Capital Management LLC now owns 79,749 shares of the bank’s stock valued at $1,240,000 after purchasing an additional 10,142 shares during the period. Legal & General Group Plc boosted its position in Oritani Financial by 6.1% during the 3rd quarter. Legal & General Group Plc now owns 89,252 shares of the bank’s stock valued at $1,385,000 after purchasing an additional 5,122 shares during the period. Finally, Vanguard Group Inc. boosted its position in Oritani Financial by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,556,313 shares of the bank’s stock valued at $70,850,000 after purchasing an additional 163,193 shares during the period. Institutional investors own 69.05% of the company’s stock.
Shares of NASDAQ ORIT opened at $16.29 on Tuesday. Oritani Financial has a fifty-two week low of $14.07 and a fifty-two week high of $18.01. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.03. The company has a market cap of $734.40 million, a price-to-earnings ratio of 14.17 and a beta of 0.63.
Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Oritani Financial had a net margin of 33.03% and a return on equity of 9.68%. The business had revenue of $25.20 million for the quarter, compared to analyst estimates of $26.00 million. Equities analysts expect that Oritani Financial will post 1.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.14%. Oritani Financial’s payout ratio is 86.96%.
Oritani Financial Company Profile
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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