Oritani Financial Corp. (ORIT) to Issue Quarterly Dividend of $0.25 on May 18th
Oritani Financial Corp. (NASDAQ:ORIT) declared 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 annualized dividend and a dividend yield of 6.45%. The ex-dividend date is Thursday, May 3rd.
Shares of NASDAQ ORIT opened at $15.50 on Friday. The stock has a market capitalization of $715.66, a P/E ratio of 13.67 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 has a 52-week low of $15.05 and a 52-week high of $17.75.
Oritani Financial (NASDAQ:ORIT) last announced its earnings results on Monday, January 29th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $28.19 million during the quarter, compared to analysts’ expectations of $28.80 million. Oritani Financial had a return on equity of 9.01% and a net margin of 22.22%. research analysts forecast that Oritani Financial will post 1.08 earnings per share for the current fiscal year.
ORIT has been the subject of a number of research analyst reports. BidaskClub raised Oritani Financial from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Sandler O’Neill reissued a “hold” rating and issued a $16.50 target price on shares of Oritani Financial in a research report on Monday, March 26th. Finally, ValuEngine cut Oritani Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $16.75.
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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