Zacks: Oritani Financial Corp. (ORIT) Receives Average Rating of “Hold” from Brokerages

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Shares of Oritani Financial Corp. (NASDAQ:ORIT) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Brokers have set a one year consensus target price 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 assigned Oritani Financial an industry rank of 162 out of 257 based on the ratings given to related companies.

A number of analysts recently weighed in on ORIT shares. BidaskClub lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. ValuEngine lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th.

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

Several institutional investors have recently made changes to their positions in ORIT. BlackRock Inc. boosted its stake in shares of Oritani Financial by 6.4% in the 2nd quarter. BlackRock Inc. now owns 5,658,346 shares of the bank’s stock valued at $91,664,000 after purchasing an additional 337,858 shares in the last quarter. Citadel Advisors LLC raised its holdings in Oritani Financial by 315.8% during the 2nd quarter. Citadel Advisors LLC now owns 334,515 shares of the bank’s stock valued at $5,419,000 after buying an additional 254,055 shares during the last quarter. Millennium Management LLC raised its holdings in Oritani Financial by 584.5% during 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 last quarter. Dimensional Fund Advisors LP raised its holdings in Oritani Financial by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,524,952 shares of the bank’s stock valued at $57,104,000 after buying an additional 157,030 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Oritani Financial by 10.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,625,667 shares of the bank’s stock valued at $26,336,000 after buying an additional 147,903 shares during the last quarter. 63.08% of the stock is owned by institutional investors.

Oritani Financial stock traded up $0.16 during midday trading on Wednesday, reaching $15.27. 248,300 shares of the stock were exchanged, compared to its average volume of 179,425. The company has a current ratio of 1.21, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $692.77 million, a PE ratio of 13.28 and a beta of 0.46. Oritani Financial has a 52 week low of $14.24 and a 52 week high of $17.70.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.55%. Oritani Financial’s dividend payout ratio (DPR) 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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