Brokerages Set $17.25 Target Price for Oritani Financial Corp. (ORIT)
Oritani Financial Corp. (NASDAQ:ORIT) has received a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Analysts have set a 1 year consensus price objective of $17.25 for the company and are anticipating that the company will post $0.28 earnings per share for the current quarter, according to Zacks. Zacks has also given Oritani Financial Corp. an industry rank of 112 out of 265 based on the ratings given to related companies.
A number of analysts recently weighed in on ORIT shares. ValuEngine upgraded shares of Oritani Financial Corp. from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub cut shares of Oritani Financial Corp. from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Piper Jaffray Companies restated a “hold” rating and set a $17.00 target price on shares of Oritani Financial Corp. in a report on Thursday, August 3rd. Finally, FIG Partners restated a “market-perform” rating on shares of Oritani Financial Corp. in a report on Thursday, October 26th.
Shares of Oritani Financial Corp. (NASDAQ ORIT) traded up $0.07 during trading hours on Tuesday, hitting $16.13. 64,688 shares of the company’s stock traded hands, compared to its average volume of 188,902. Oritani Financial Corp. has a 12 month low of $15.30 and a 12 month high of $19.00. The firm has a market capitalization of $748.06, a price-to-earnings ratio of 12.09 and a beta of 0.34. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.96.
Oritani Financial Corp. (NASDAQ:ORIT) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $28.59 million for the quarter, compared to analyst estimates of $28.30 million. Oritani Financial Corp. had a net margin of 31.03% and a return on equity of 10.73%. sell-side analysts anticipate that Oritani Financial Corp. will post 1.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be given a $0.175 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.70 annualized dividend and a dividend yield of 4.34%. Oritani Financial Corp.’s dividend payout ratio (DPR) is presently 61.95%.
In other Oritani Financial Corp. news, EVP Thomas Guinan sold 25,007 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $16.27, for a total value of $406,863.89. Following the completion of the sale, the executive vice president now owns 110,211 shares in the company, valued at approximately $1,793,132.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 119,492 shares of company stock valued at $1,943,034. 12.12% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its holdings in shares of Oritani Financial Corp. by 17.7% during the 2nd quarter. Prudential Financial Inc. now owns 275,965 shares of the bank’s stock valued at $4,705,000 after purchasing an additional 41,410 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Oritani Financial Corp. by 6.3% in the 1st quarter. Thrivent Financial For Lutherans now owns 21,790 shares of the bank’s stock valued at $370,000 after buying an additional 1,290 shares during the last quarter. Aperio Group LLC grew its stake in Oritani Financial Corp. by 65.9% in the 2nd quarter. Aperio Group LLC now owns 48,123 shares of the bank’s stock valued at $820,000 after buying an additional 19,118 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Oritani Financial Corp. by 19.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 314,998 shares of the bank’s stock valued at $5,370,000 after buying an additional 51,870 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Oritani Financial Corp. by 5.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 163,731 shares of the bank’s stock valued at $2,784,000 after buying an additional 9,021 shares during the last quarter. Institutional investors and hedge funds own 63.50% of the company’s stock.
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Oritani Financial Corp. Company Profile
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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