Oritani Financial Corp. (NASDAQ:ORIT) released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27, Bloomberg Earnings reports. The business had revenue of $28.59 million during 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%.
Oritani Financial Corp. (ORIT) opened at $16.15 on Friday. Oritani Financial Corp. has a fifty-two week low of $15.30 and a fifty-two week high of $19.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.23 and a quick ratio of 1.26. The firm has a market cap of $742.79, a P/E ratio of 11.98 and a beta of 0.34.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.70 annualized dividend and a yield of 4.33%. Oritani Financial Corp.’s dividend payout ratio (DPR) is presently 61.95%.
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In other news, EVP Thomas Guinan sold 71,478 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $16.29, for a total transaction of $1,164,376.62. Following the sale, the executive vice president now owns 135,204 shares of the company’s stock, valued at approximately $2,202,473.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 119,492 shares of company stock worth $1,943,034. 12.12% of the stock is owned by corporate insiders.
Several analysts have commented on ORIT shares. ValuEngine raised shares of Oritani Financial Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. Piper Jaffray Companies restated a “hold” rating and set a $17.00 price objective on shares of Oritani Financial Corp. in a report on Thursday, August 3rd. FIG Partners restated a “market-perform” rating on shares of Oritani Financial Corp. in a report on Thursday, October 26th. Finally, BidaskClub upgraded shares of Oritani Financial Corp. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th.
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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