Oritani Financial Corp. (NASDAQ:ORIT) announced a quarterly dividend on Thursday, April 26th, Wall Street Journal reports. Stockholders of record on Friday, May 4th will be given a dividend of 0.25 per share by the bank on Friday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend is Thursday, May 3rd.
Shares of Oritani Financial stock traded down $0.20 during trading hours on Thursday, reaching $15.45. 96,918 shares of the company’s stock were exchanged, compared to its average volume of 186,148. Oritani Financial has a 1 year low of $15.05 and a 1 year high of $17.75. The firm has a market capitalization of $720.30, a price-to-earnings ratio of 11.79 and a beta of 0.41. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.99.
Oritani Financial (NASDAQ:ORIT) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Oritani Financial had a net margin of 26.13% and a return on equity of 10.96%. The firm had revenue of $28.19 million during the quarter, compared to analyst estimates of $28.80 million. research analysts anticipate that Oritani Financial will post 1.08 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Oritani Financial from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. ValuEngine lowered shares of Oritani Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $16.50 price objective on shares of Oritani Financial in a report on Monday, March 26th. Four research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $16.75.
In other Oritani Financial news, SVP Philip Wyks sold 10,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.95, for a total value of $159,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert S. Hekemian, Jr. sold 11,334 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $16.00, for a total transaction of $181,344.00. The disclosure for this sale can be found here. Insiders sold 448,247 shares of company stock valued at $7,129,174 in the last three months. 12.12% of the stock is currently owned by insiders.
About Oritani Financial
Oritani Financial Corp. operates as a savings and loan holding company for Oritani Bank that provides various banking services for individual and corporate customers in the United States. It accepts a range of deposit products, including non-interest and interest-bearing demand and NOW checking accounts, money market deposit accounts, savings accounts, retirement accounts, and time deposits.
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