Oritani Financial Reaches New 52-Week High (ORIT)

NEW YORK ( TheStreet) -- Oritani Financial (Nasdaq: ORIT) hit a new 52-week high Friday as it is currently trading at $15.07, above its previous 52-week high of $15.06 with 21,965 shares traded as of 10:34 a.m. ET. Average volume has been 317,000 shares over the past 30 days.

Oritani Financial has a market cap of $675.5 million and is part of the financial sector and banking industry. Shares are up 16.7% year to date as of the close of trading on Thursday.

Oritani Financial Corp. operates as the holding company for Oritani Bank that provides retail and commercial banking services to individual and business customers in New Jersey. The company has a P/E ratio of 25.2, above the average banking industry P/E ratio of 24.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Oritani Financial as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Oritani Financial Ratings Report.

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