Oritani Financial (NASDAQ:ORIT) Sets New 12-Month High at $18.32

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Oritani Financial Corp. (NASDAQ:ORIT)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $18.32 and last traded at $18.32, with a volume of 20076 shares traded. The stock had previously closed at $18.03.

Several equities research analysts recently commented on ORIT shares. BidaskClub lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Zacks Investment Research upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. Sandler O’Neill upgraded shares of Oritani Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $19.00 in a research report on Thursday, June 27th. Finally, ValuEngine lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.00.

The company has a market capitalization of $813.10 million, a PE ratio of 15.52 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s fifty day simple moving average is $17.24 and its 200-day simple moving average is $17.04.

Oritani Financial (NASDAQ:ORIT) last released its earnings results on Tuesday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $25.86 million for the quarter, compared to analyst estimates of $25.00 million. Oritani Financial had a net margin of 32.43% and a return on equity of 9.69%.

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a $0.25 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a yield of 5.47%. Oritani Financial’s dividend payout ratio (DPR) is 84.75%.

Large investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc purchased a new position in Oritani Financial in the 2nd quarter valued at about $27,000. BNP Paribas Arbitrage SA lifted its holdings in Oritani Financial by 127.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,844 shares of the bank’s stock valued at $147,000 after purchasing an additional 4,951 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Oritani Financial by 136.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,800 shares of the bank’s stock valued at $209,000 after purchasing an additional 6,800 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in Oritani Financial by 61.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 12,798 shares of the bank’s stock valued at $227,000 after purchasing an additional 4,863 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Oritani Financial by 32.7% during the 2nd quarter. Bank of Montreal Can now owns 13,450 shares of the bank’s stock valued at $238,000 after acquiring an additional 3,318 shares during the last quarter. Institutional investors own 69.12% of the company’s stock.

About Oritani Financial (NASDAQ:ORIT)

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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