ValuEngine upgraded shares of Oritani Financial (NASDAQ:ORIT) from a sell rating to a hold rating in a report published on Friday morning.
Separately, BidaskClub raised Oritani Financial from a sell rating to a hold rating in a research note on Wednesday, May 23rd.
Shares of Oritani Financial stock opened at $16.35 on Friday. Oritani Financial has a fifty-two week low of $15.00 and a fifty-two week high of $17.70. The firm has a market cap of $745.87 million, a price-to-earnings ratio of 14.22 and a beta of 0.41. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.22 and a current ratio of 1.22.
Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings results on Tuesday, July 24th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. Oritani Financial had a return on equity of 9.32% and a net margin of 27.44%. The company had revenue of $28.74 million for the quarter, compared to analyst estimates of $27.60 million. analysts expect that Oritani Financial will post 1.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date was Thursday, August 2nd. Oritani Financial’s dividend payout ratio is presently 86.96%.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Oritani Financial during the 1st quarter worth $104,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Oritani Financial during the 2nd quarter worth $150,000. Lyell Wealth Management LP acquired a new stake in shares of Oritani Financial during the 2nd quarter worth $186,000. Barclays PLC increased its holdings in shares of Oritani Financial by 120.0% during the 1st quarter. Barclays PLC now owns 13,805 shares of the bank’s stock worth $212,000 after buying an additional 7,530 shares during the last quarter. Finally, First Allied Advisory Services Inc. acquired a new stake in shares of Oritani Financial during the 1st quarter worth $251,000. Institutional investors and hedge funds own 61.07% of the company’s stock.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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