Zacks: Analysts Set $17.00 Target Price for Oritani Financial Corp. (ORIT)

Oritani Financial Corp. (NASDAQ:ORIT) has received an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.

Brokers have set a 1 year consensus target price of $17.00 for the company and are anticipating that the company will post $0.28 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Oritani Financial an industry rank of 157 out of 255 based on the ratings given to related companies.

Several brokerages recently issued reports on ORIT. ValuEngine upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. BidaskClub upgraded shares of Oritani Financial from a “hold” rating to a “buy” rating in a research report on Wednesday.

Shares of NASDAQ:ORIT traded down $0.17 during midday trading on Wednesday, hitting $14.91. 18,734 shares of the stock traded hands, compared to its average volume of 179,541. The company has a market cap of $709.09 million, a price-to-earnings ratio of 12.99 and a beta of 0.38. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.07. Oritani Financial has a one year low of $14.89 and a one year high of $17.70.

Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings data on Monday, October 29th. The bank reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). Oritani Financial had a net margin of 28.23% and a return on equity of 9.61%. The firm had revenue of $27.12 million for the quarter, compared to the consensus estimate of $27.50 million. As a group, research analysts forecast that Oritani Financial will post 1.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Friday, November 9th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.71%. The ex-dividend date of this dividend is Thursday, November 8th. Oritani Financial’s dividend payout ratio is currently 86.96%.

In related news, SVP Philip Wyks sold 7,000 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $15.97, for a total transaction of $111,790.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 10.19% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in Oritani Financial in the third quarter worth about $124,000. Acadian Asset Management LLC purchased a new stake in Oritani Financial in the third quarter worth about $138,000. Piedmont Investment Advisors LLC purchased a new stake in Oritani Financial in the second quarter worth about $150,000. FNY Investment Advisers LLC purchased a new stake in Oritani Financial in the third quarter worth about $155,000. Finally, Lyell Wealth Management LP purchased a new stake in Oritani Financial in the second quarter worth about $186,000. Institutional investors own 62.85% of the company’s stock.

Oritani Financial Company Profile

Oritani Financial Corp. operates as a savings and loan holding company for Oritani Bank that provides various banking services for individual and corporate customers. The company accepts a range of deposit products, such as 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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