Oritani Financial Corp. (ORIT) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Oritani Financial Corp. (NASDAQ:ORIT) have received a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 12-month consensus price target of $17.25 for the company and are forecasting that the company will post $0.27 EPS for the current quarter, according to Zacks. Zacks has also assigned Oritani Financial an industry rank of 114 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently weighed in on ORIT shares. BidaskClub upgraded Oritani Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. ValuEngine lowered Oritani Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, FIG Partners restated a “market-perform” rating on shares of Oritani Financial in a research report on Thursday, October 26th.
Oritani Financial (NASDAQ:ORIT) opened at $16.95 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96. Oritani Financial has a fifty-two week low of $15.30 and a fifty-two week high of $19.00. The company has a market capitalization of $786.76, a price-to-earnings ratio of 12.69 and a beta of 0.35.
Oritani Financial (NASDAQ:ORIT) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $28.59 million during the quarter, compared to analysts’ expectations of $28.30 million. Oritani Financial had a return on equity of 10.73% and a net margin of 31.03%. research analysts expect that Oritani Financial will post 1.02 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, December 7th. This represents a yield of 4.17%. Oritani Financial’s dividend payout ratio is currently 61.95%.
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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