Analysts Expect Oritani Financial Corp. (ORIT) to Announce $0.27 EPS

Shares of Oritani Financial Corp. (NASDAQ:ORIT) have been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.

Brokers have set a twelve-month consensus price target of $17.25 for the company and are anticipating 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 17 out of 265 based on the ratings given to its competitors.

Several equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Oritani Financial from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. FIG Partners reissued a “market-perform” rating on shares of Oritani Financial in a research note on Thursday, October 26th. Finally, BidaskClub downgraded shares of Oritani Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th.

Oritani Financial (ORIT) opened at $16.40 on Wednesday. Oritani Financial has a 12-month low of $15.30 and a 12-month high of $17.80. The company has a market cap of $758.99, a price-to-earnings ratio of 14.51 and a beta of 0.36. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.23.

Oritani Financial (NASDAQ:ORIT) last announced its earnings results on Wednesday, October 25th. The bank reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. Oritani Financial had a net margin of 31.03% and a return on equity of 10.73%. The business had revenue of $28.59 million for the quarter, compared to the consensus estimate of $28.30 million. equities research analysts forecast that Oritani Financial will post 1.02 EPS for the current fiscal year.

The company also recently announced a special dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were paid a $0.45 dividend. This represents a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, December 7th. Oritani Financial’s dividend payout ratio is currently 61.95%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Oritani Financial in the third quarter valued at $185,000. BNP Paribas Arbitrage SA increased its stake in Oritani Financial by 66.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,456 shares of the bank’s stock worth $229,000 after buying an additional 5,393 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Oritani Financial by 58.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,460 shares of the bank’s stock worth $243,000 after buying an additional 5,360 shares during the period. Stevens Capital Management LP purchased a new position in Oritani Financial in the 2nd quarter worth about $253,000. Finally, Nisa Investment Advisors LLC purchased a new position in Oritani Financial in the 4th quarter worth about $254,000. 62.03% of the stock is currently owned by institutional investors and hedge funds.

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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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