This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

10 Well-Run, Profitable Banks (Update 3)

Stocks in this article: HCBK WFSL SBNY PB ORIT WABC BKU ISBC STBZ DCOM HNB

3. Oritani Financial Corp.

Shares of Oritani Financial Corp. (ORIT - Get Report) of the Township of Washington, N.J., closed at $12.77 Friday, returning 8% during 2011. Based on a quarterly payout of 12.5 cents, the shares have a dividend yield of 3.92%.

The company's third-quarter efficiency ratio was 34.77, according to SNL Financial.

Oritani announced on Nov. 14 that its board of directors had completed its second share repurchase program, and authorized a new program to repurchase up to 2,278,776, or another 5% of its common shares.

Third-quarter net income was $7.3 million, or 15 cents a share, increasing from $7.2 million, or 14 cents a share, a year earlier. The third-quarter ROA was 1.14%, according to SNL.

Sterne Agee analyst Mike Shafir in October downgraded Oritani's shares to a neutral rating, "based exclusively on valuation," relative to peers. While the analyst said the premium was "warranted due to Oritani's superior profitability," he didn't "see near-term multiple expansion in the current operating environment." Shafir estimates the company will earn 61 cents a share in 2012.

The shares trade for 22 times the consensus 2012 EPS estimate of 59 cents, among analysts polled by FactSet, and for 1.1 times their Sept. 30 tangible book value of $11.12, according to SNL Financial.

The four analysts covering Oritani Financial Corp. are evenly split between buy ratings and neutral ratings.

Interested in more on Oritani Financial Corp.? See TheStreet Ratings' report card for this stock.

9 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs