Oritani Financial Corp. (NASDAQ:ORIT) posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.27, Bloomberg Earnings reports. The business had revenue of $28.59 million during the quarter, compared to the consensus estimate of $28.30 million. Oritani Financial Corp. had a return on equity of 10.73% and a net margin of 31.03%.
Shares of Oritani Financial Corp. (NASDAQ ORIT) opened at $16.15 on Friday. The firm has a market capitalization of $742.79, a P/E ratio of 11.98 and a beta of 0.34. The company has a current ratio of 1.23, a quick ratio of 1.26 and a debt-to-equity ratio of 0.96. Oritani Financial Corp. has a twelve month low of $15.30 and a twelve month high of $19.00.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.33%. Oritani Financial Corp.’s dividend payout ratio (DPR) is presently 61.95%.
A number of research firms recently commented on ORIT. FIG Partners reiterated a “market-perform” rating on shares of Oritani Financial Corp. in a research note on Thursday, October 26th. ValuEngine raised shares of Oritani Financial Corp. from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub raised shares of Oritani Financial Corp. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $17.00 target price on shares of Oritani Financial Corp. in a report on Thursday, August 3rd.
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In other news, EVP Thomas Guinan sold 25,007 shares of Oritani Financial Corp. stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $16.27, for a total transaction of $406,863.89. Following the sale, the executive vice president now owns 110,211 shares of the company’s stock, valued at $1,793,132.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 119,492 shares of company stock worth $1,943,034. Corporate insiders own 12.12% of the company’s stock.
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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