Oritani Financial Corporation (ORIT) is a financial holding company for Oritani Bank. Oritani Bank is one of the largest community banks in the state of New Jersey, and it provides a wide range of retail (personal) and commercial (business) loan and deposit products.
Oritani is one of the better-run banks that we cover. It can boast of a steady stream of positive cash flows and steady stream of growing (or at least mostly growing) profits, cash flows, free cash flows, book value of equity, sales, and dividends.
Furthermore, its balance sheet is in decent shape. It appears slightly more levered than it has been historically. But Oritani has always been one of the more conservatively run banks. Relative to its peers, Oritani’s balance sheet is not weak. In fact, we would characterize it as at least average (if not higher).
We would not consider Oritani a Buy for now. However, we do feel that its dividend is solid and is not in danger of being cut. Oritani is not one of the best monthly dividend stocks we cover, but it is close. For those investors who want a solid, mid-sized company with room to grow, Oritani would make an excellent prospect.
Stat Sheet – Oritani Financial Corporation 4/6/16
|Market Cap||$ 690|
|Growth Prospects||Above Average|
|Price Volatility||Below Average|
And, if you would like to read more research on other top dividend paying stocks we cover as well research on the other types of stocks we cover, click the link below.