Other equities research analysts have also recently issued research reports about the stock. Sandler O’Neill upgraded shares of Oritani Financial from a hold rating to a buy rating and raised their target price for the stock from $17.00 to $19.00 in a research note on Thursday, June 27th. Zacks Investment Research raised shares of Oritani Financial from a sell rating to a hold rating in a report on Wednesday, June 26th. Finally, ValuEngine lowered shares of Oritani Financial from a hold rating to a sell rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Oritani Financial currently has an average rating of Hold and an average target price of $19.00.
NASDAQ ORIT traded down $0.34 on Friday, reaching $17.36. 128,545 shares of the stock were exchanged, compared to its average volume of 242,692. Oritani Financial has a one year low of $14.07 and a one year high of $18.30. The firm has a market cap of $816.00 million, a price-to-earnings ratio of 14.71 and a beta of 0.70. The firm’s 50-day moving average price is $17.25. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.22.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Thursday, August 1st. Oritani Financial’s dividend payout ratio (DPR) is currently 84.75%.
A number of institutional investors and hedge funds have recently made changes to their positions in ORIT. Bank of New York Mellon Corp grew its holdings in Oritani Financial by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 654,178 shares of the bank’s stock valued at $9,649,000 after buying an additional 10,315 shares in the last quarter. Geode Capital Management LLC grew its holdings in Oritani Financial by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 493,295 shares of the bank’s stock valued at $7,276,000 after buying an additional 24,144 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Oritani Financial during the 4th quarter valued at approximately $169,000. Metropolitan Life Insurance Co. NY grew its holdings in Oritani Financial by 350.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,060 shares of the bank’s stock valued at $193,000 after buying an additional 10,163 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Oritani Financial during the 4th quarter valued at approximately $249,000. 67.74% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Oritani Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oritani Financial and related companies with MarketBeat.com's FREE daily email newsletter.