Oritani Financial Corp. (ORIT) Declares $0.18 Quarterly Dividend

Oritani Financial Corp. (NASDAQ:ORIT) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Monday, November 6th will be given a dividend of 0.175 per share by the bank on Monday, November 20th. This represents a $0.70 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Friday, November 3rd.

Oritani Financial Corp. (NASDAQ ORIT) traded up $0.10 on Friday, hitting $16.15. The stock had a trading volume of 162,900 shares, compared to its average volume of 189,642. 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. has a 52-week low of $15.30 and a 52-week high of $19.00. The stock has a market capitalization of $742.79, a PE ratio of 11.98 and a beta of 0.34.

Oritani Financial Corp. (NASDAQ:ORIT) last released its quarterly 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 Corp. had a return on equity of 10.73% and a net margin of 31.03%. The company had revenue of $28.59 million for the quarter, compared to analyst estimates of $28.30 million. analysts forecast that Oritani Financial Corp. will post 1.05 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on ORIT shares. ValuEngine upgraded Oritani Financial Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub lowered Oritani Financial Corp. from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Piper Jaffray Companies restated a “hold” rating and set a $17.00 price target on shares of Oritani Financial Corp. in a research report on Thursday, August 3rd. Finally, FIG Partners restated a “market-perform” rating on shares of Oritani Financial Corp. in a research report on Thursday, October 26th.

In other Oritani Financial Corp. news, EVP Thomas Guinan sold 23,007 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $16.16, for a total value of $371,793.12. Following the sale, the executive vice president now directly owns 108,211 shares of the company’s stock, valued at $1,748,689.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 119,492 shares of company stock worth $1,943,034 over the last three months. Corporate insiders own 12.12% of the company’s stock.

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About Oritani Financial Corp.

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.

Dividend History for Oritani Financial Corp. (NASDAQ:ORIT)

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