BidaskClub Lowers Oritani Financial (NASDAQ:ORIT) to Hold

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

A number of other brokerages have also commented on ORIT. Sandler O’Neill upgraded shares of Oritani Financial from a hold rating to a buy rating and lifted their price target for the stock from $17.00 to $19.00 in a report on Thursday, June 27th. Zacks Investment Research lowered shares of 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 given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $19.00.

Shares of NASDAQ:ORIT opened at $17.63 on Thursday. The firm has a market capitalization of $794.81 million, a price-to-earnings ratio of 14.82 and a beta of 0.71. The business’s fifty day simple moving average is $16.64. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.03. Oritani Financial has a 52 week low of $14.07 and a 52 week high of $18.01.

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

In other Oritani Financial news, Director Judith Schumacher-Tilton purchased 5,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were bought at an average price of $17.03 per share, for a total transaction of $85,150.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.19% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in ORIT. Versant Capital Management Inc lifted its holdings in Oritani Financial by 22.6% in the first quarter. Versant Capital Management Inc now owns 3,229 shares of the bank’s stock valued at $53,000 after buying an additional 595 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Oritani Financial by 127.2% in the first quarter. BNP Paribas Arbitrage SA now owns 8,844 shares of the bank’s stock valued at $147,000 after buying an additional 4,951 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in Oritani Financial in the fourth quarter valued at $169,000. Metropolitan Life Insurance Co. NY lifted its holdings in Oritani Financial by 350.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,060 shares of the bank’s stock valued at $193,000 after buying an additional 10,163 shares during the period. Finally, Brinker Capital Inc. acquired a new position in Oritani Financial in the first quarter valued at $203,000. Institutional investors and hedge funds own 67.91% of the company’s stock.

About Oritani Financial

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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