UPDATE: Keefe, Bruyette & Woods Raises PT to $16 on Oritani Financial Corp: Strong Q, Outlook

Keefe, Bruyette & Woods raises its price target from $15 to $16 on Outperform-rated Oritani Financial Corp ORIT as the company posts a strong quarter and looks to improve further from here. Keefe, Bruyette & Woods comments, "ORIT posted very solid results for 3Q12 and we are incrementally more positive about shares of Oritani after the quarter. We believe the company trades at an attractive valuation especially when considering the company's strong core profitability and capital generation. We believe ORIT should be a core holding for investors that seek attractive growth prospects and capital returns through dividends and buybacks." ORIT closed at $14,47 on Monday.