Oritani Financial (NASDAQ:ORIT) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, February 17th.
ORIT has been the subject of several other research reports. ValuEngine upgraded shares of Oritani Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. FIG Partners reiterated a “market-perform” rating on shares of Oritani Financial in a report on Thursday, October 26th.
Shares of Oritani Financial (NASDAQ ORIT) traded down $0.15 during mid-day trading on Friday, hitting $15.80. 180,374 shares of the stock traded hands, compared to its average volume of 193,417. The stock has a market capitalization of $741.14, a P/E ratio of 16.46 and a beta of 0.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.23 and a current ratio of 1.23. Oritani Financial has a 52 week low of $15.30 and a 52 week high of $17.75.
Oritani Financial (NASDAQ:ORIT) last announced its earnings results on Monday, January 29th. The bank reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $28.19 million during the quarter, compared to the consensus estimate of $28.80 million. Oritani Financial had a net margin of 26.13% and a return on equity of 10.96%. equities research analysts predict that Oritani Financial will post 1.08 earnings per share for the current year.
In related news, Director Robert S. Hekemian, Jr. sold 49,193 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $15.96, for a total transaction of $785,120.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert S. Hekemian, Jr. sold 11,334 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $16.00, for a total transaction of $181,344.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 287,919 shares of company stock valued at $4,592,785. 12.12% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its position in Oritani Financial by 3.9% during the second quarter. State Street Corp now owns 1,244,149 shares of the bank’s stock valued at $21,214,000 after buying an additional 46,224 shares during the period. Nordea Investment Management AB grew its position in Oritani Financial by 17.4% during the third quarter. Nordea Investment Management AB now owns 131,371 shares of the bank’s stock valued at $2,207,000 after buying an additional 19,477 shares during the period. Vanguard Group Inc. grew its position in Oritani Financial by 1.4% during the second quarter. Vanguard Group Inc. now owns 4,018,352 shares of the bank’s stock valued at $68,514,000 after buying an additional 54,268 shares during the period. California Public Employees Retirement System boosted its position in Oritani Financial by 32.1% during the second quarter. California Public Employees Retirement System now owns 59,200 shares of the bank’s stock worth $1,009,000 after purchasing an additional 14,400 shares during the period. Finally, Magnetar Financial LLC boosted its position in Oritani Financial by 310.5% during the third quarter. Magnetar Financial LLC now owns 47,179 shares of the bank’s stock worth $793,000 after purchasing an additional 35,686 shares during the period. Institutional investors own 63.50% of the company’s stock.
About Oritani Financial
Oritani Financial Corp. is a holding company for Oritani Bank (the Bank). The Bank offers a range of retail and commercial loan and deposit products. The Bank operates in the New Jersey Counties of Bergen, Hudson, Essex and Passaic. The Bank’s loan portfolio includes residential loans, residential commercial real estate loans, credit or grocery retail commercial real estate loans, other commercial real estate loans, and construction and land loans.
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