3. Oritani Financial
Shares of Oritani Financial (ORIT) of the Township of Washington, N.J., closed at $12.52 Monday, down 2% year-to-date. The shares have returned 27% since the company's initial public offering at $10 a share, on Jan. 24, 2007.
The stock is rated an "A" by TheStreet Ratings.The company was also included among TheStreet's 10 Well-Run, Profitable Banks, based on third-quarter efficiency ratios. Oritani Financial is part of a mutual holding company structure, with 74.4% of common shares held by Oritani Financial Corp., MHC, according to the company's third-quarter 10-Q filing. Oritani Financial and the mutual holding company adopted a conversion plan in February 2010, to convert the holding company to a fully public stock structure. While the company has not said when it plans to complete its second-step conversion to full stock ownership, Oritani in November announced its third share buyback program in November, authorizing the repurchase of 2,278,776 shares, or 5% of outstanding shares. The company had $2.6 billion in total assets as of Dec.31 ,with 26 branch offices. The company is set to announce its fourth-quarter results on Friday, with analysts expecting EPS of 13 cents a share, declining from 15 cents in the third quarter, and matching the results in the fourth quarter of 2010. Oritani's earnings have been quite steady, with an ROA ranging from 1.11% to 1.15% over the five quarters ended Sept. 30. The shares trade for 1.1 times tangible book value, according to SNL Financial, and for 21 times the consensus 2012 EPS estimate of 60 cents, among analysts polled by FactSet. Interested in more on Oritani Financial? See TheStreet Ratings' report card for this stock.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV