Oritani Financial (NASDAQ:ORIT) Downgraded by BidaskClub to Hold

BidaskClub cut shares of Oritani Financial (NASDAQ:ORIT) from a buy rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

A number of other equities analysts also recently weighed in on the company. Sandler O’Neill upgraded Oritani Financial from a hold rating to a buy rating and upped their target price for the company from $17.00 to $19.00 in a report on Thursday, June 27th. Zacks Investment Research downgraded Hancock Jaffe Laboratories from a buy rating to a hold rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $19.00.

Shares of NASDAQ:ORIT traded up $0.05 during trading hours on Thursday, reaching $17.47. The stock had a trading volume of 3,792 shares, compared to its average volume of 358,999. Oritani Financial has a 1 year low of $14.07 and a 1 year high of $18.01. The business’s 50 day moving average is $16.61. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.03. The stock has a market cap of $785.35 million, a PE ratio of 15.18 and a beta of 0.71.



Oritani Financial (NASDAQ:ORIT) last released its earnings results on Monday, April 22nd. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $25.20 million for the quarter, compared to the consensus estimate of $26.00 million. Oritani Financial had a net margin of 33.03% and a return on equity of 9.68%. Equities research analysts anticipate that Oritani Financial will post 1.14 earnings per share for the current fiscal year.

In related news, Director Judith Schumacher-Tilton acquired 5,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was purchased at an average cost of $17.03 per share, for a total transaction of $85,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.19% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ORIT. Robeco Institutional Asset Management B.V. increased its stake in shares of Oritani Financial by 237.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,204,950 shares of the bank’s stock valued at $20,040,000 after buying an additional 847,565 shares in the last quarter. Norges Bank bought a new position in Oritani Financial in the fourth quarter valued at about $10,540,000. Acadian Asset Management LLC boosted its holdings in Oritani Financial by 1,201.8% in the first quarter. Acadian Asset Management LLC now owns 557,376 shares of the bank’s stock valued at $9,270,000 after acquiring an additional 514,561 shares during the last quarter. BlackRock Inc. boosted its holdings in Oritani Financial by 3.8% in the fourth quarter. BlackRock Inc. now owns 6,072,366 shares of the bank’s stock valued at $89,568,000 after acquiring an additional 222,302 shares during the last quarter. Finally, AJO LP bought a new position in Oritani Financial in the first quarter valued at about $3,228,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Oritani Financial Company Profile

Oritani Financial Corp. operates as a savings and loan holding company for Oritani Bank that provides various banking services for individual and corporate customers. The company accepts a range of deposit products, such as non-interest and interest-bearing demand and NOW checking accounts, money market deposit accounts, savings accounts, retirement accounts, and time deposits.

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