Oritani Financial Corp. (NASDAQ:ORIT) insider Kevin J. Lynch sold 72,973 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $15.93, for a total value of $1,162,459.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Oritani Financial Corp. (ORIT) opened at $15.95 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.23 and a quick ratio of 1.23. Oritani Financial Corp. has a 12-month low of $15.30 and a 12-month high of $17.75. The stock has a market capitalization of $738.82, a price-to-earnings ratio of 16.61 and a beta of 0.42.
Oritani Financial (NASDAQ:ORIT) last released its earnings results on Monday, January 29th. 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 10.96% and a net margin of 26.13%. The firm had revenue of $28.19 million for the quarter, compared to the consensus estimate of $28.80 million. research analysts predict that Oritani Financial Corp. will post 1.08 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gradient Investments LLC acquired a new position in shares of Oritani Financial in the 4th quarter valued at $150,000. Stone Ridge Asset Management LLC acquired a new position in shares of Oritani Financial in the 4th quarter valued at $174,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Oritani Financial in the 3rd quarter valued at $185,000. Teacher Retirement System of Texas acquired a new position in shares of Oritani Financial in the 4th quarter valued at $218,000. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Oritani Financial by 58.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,460 shares of the bank’s stock valued at $243,000 after acquiring an additional 5,360 shares during the period. 61.82% of the stock is currently owned by hedge funds and other institutional investors.
ORIT has been the topic of several research reports. ValuEngine raised Oritani Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BidaskClub downgraded Oritani Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.
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Oritani Financial Company Profile
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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