Oritani Financial (NASDAQ:ORIT) Sets New 1-Year High at $18.55

Shares of Oritani Financial Corp. (NASDAQ:ORIT) reached a new 52-week high during trading on Monday . The company traded as high as $18.55 and last traded at $18.50, with a volume of 2890 shares. The stock had previously closed at $18.46.

A number of analysts have recently commented on ORIT shares. Zacks Investment Research upgraded Oritani Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. Sandler O’Neill upgraded Oritani Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $19.00 in a report on Thursday, June 27th. BidaskClub upgraded Oritani Financial from a “hold” rating to a “buy” rating in a report on Thursday. Finally, ValuEngine downgraded Oritani Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.00.

The stock has a market capitalization of $843.82 million, a price-to-earnings ratio of 15.81 and a beta of 0.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a fifty day moving average of $17.64 and a 200-day moving average of $17.14.

Oritani Financial (NASDAQ:ORIT) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. Oritani Financial had a return on equity of 9.69% and a net margin of 32.43%. The firm had revenue of $25.86 million during the quarter, compared to the consensus estimate of $25.00 million.

A number of hedge funds and other institutional investors have recently made changes to their positions in ORIT. Virginia Retirement Systems ET AL boosted its position in shares of Oritani Financial by 1.4% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 67,200 shares of the bank’s stock valued at $1,192,000 after acquiring an additional 900 shares in the last quarter. 6 Meridian lifted its position in shares of Oritani Financial by 2.1% during the second quarter. 6 Meridian now owns 43,170 shares of the bank’s stock worth $766,000 after purchasing an additional 908 shares in the last quarter. Swiss National Bank raised its stake in shares of Oritani Financial by 1.5% during the second quarter. Swiss National Bank now owns 75,300 shares of the bank’s stock worth $1,336,000 after buying an additional 1,100 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Oritani Financial by 3.3% during the second quarter. UBS Asset Management Americas Inc. now owns 35,229 shares of the bank’s stock worth $625,000 after buying an additional 1,122 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Oritani Financial by 3.1% during the second quarter. KBC Group NV now owns 41,898 shares of the bank’s stock worth $743,000 after buying an additional 1,278 shares during the last quarter. Hedge funds and other institutional investors own 69.31% of the company’s stock.

About Oritani Financial (NASDAQ:ORIT)

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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