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5 Most Lean and Mean Bank Stocks

3. Oritani Financial
Shares of Oritani Financial (ORIT) of the Township of Washington, N.J., closed at $14.79 Wednesday, returning 19% year-to-date, following an 8% return during 2011.

The shares trade for 1.3 times their reported June 30 book value of $11.30, and for 18.5 times the consensus 2013 EPS estimate of 80 cents. The consensus 2012 EPS estimate is 70 cents.

Based on a quarterly payout of 15 cents, the shares have a dividend yield of 3.38%.

The company's efficiency ratio for the 12-months ended June 30 was 37.78%.

For its fiscal fourth-quarter ended June 30, Oritani Financial reported net income of $8.3 million, or 20 cents a share, compared to $8.4 million, or 20 cents a share, the previous quarter, and $7.3 million, or 14 cents a share, a year earlier. The company's net interest margin expanded to 3.66% in the fiscal fourth quarter, from 3.58% the previous quarter, and 3.40% a year earlier.

According to Thomson Reuters Bank Insight, Oritani's ROA for the 12-month period ended June 30 was 1.21%, while the company's ROE was 5.95%.

During the 12 months ended June 30, the company repurchased 11,056,605 shares for a total cost of $143.6 million, and an average cost per share of $12.99. As of July 25 -- with no further repurchases since June -- the company was authorized under its current repurchase program to buy back an additional 1,904,476 shares.

Sterne Agee analyst Mike Shafir has a neutral rating on Oritani, and said in July that the company "continues to deliver solid results," with the most recent quarter "highlighted by net interest margin expansion and robust loan growth" and also said the company "is building a valuable New Jersey franchise while returning excess capital to shareholders."

The analyst's earnings estimate for 2012 and 2013 match the consensus.

ORIT Chart ORIT data by YCharts

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