Stephen Rosenman
Long/short equity, deep value, special situations

Oritani Financial Corp.: Do You Go For Bank Yield In New Jersey?

Not too many stocks have as high and dependable dividend yield as New Jersey community bank Oritani Financial Corp. (NASDAQ:ORIT). Sporting a 4.8% yield, the bank pays the fourth-highest dividend yield of all banks with market capitalizations greater than $200 million. Despite its attractive dividend, the stock has been hammered, falling over 9% year-to-date. Has Oritani fallen enough to warrant a place in your portfolio? After all, there are over 400 publicly traded regional banks - many of which also declined with the broader bank indices.

I would argue that Oritani has much to offer patient investors. For instance, Oritani has a much higher earnings growth rate than any of the other top six dividend-paying banks. Over the...

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