Investment Analysts’ Recent Ratings Changes for Oritani Financial (ORIT)

Several analysts have recently updated their ratings and price targets for Oritani Financial (NASDAQ: ORIT):

  • 4/13/2019 – Oritani Financial was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/5/2019 – Oritani Financial was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 4/2/2019 – Oritani Financial was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Oritani Financial Corp. is the holding company for Oritani Savings Bank, a savings bank offering a full range of retail and commercial loan and deposit products. The Bank currently operates its main office and eighteen full service branches in the New Jersey Counties of Bergen, Hudson and Passaic. “
  • 3/27/2019 – Oritani Financial was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 3/20/2019 – Oritani Financial was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 3/6/2019 – Oritani Financial was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 2/23/2019 – Oritani Financial was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of ORIT opened at $17.34 on Wednesday. The stock has a market cap of $783.28 million, a PE ratio of 15.08 and a beta of 0.62. Oritani Financial Corp. has a 1 year low of $14.07 and a 1 year high of $18.01. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.21 and a current ratio of 1.21.

Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $27.67 million for the quarter, compared to analysts’ expectations of $26.20 million. Oritani Financial had a net margin of 33.81% and a return on equity of 9.76%. As a group, analysts predict that Oritani Financial Corp. will post 1.16 EPS for the current year.

In related news, insider Ann Jetton sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $17.95, for a total value of $287,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Judith Schumacher-Tilton bought 10,000 shares of Oritani Financial stock in a transaction that occurred on Wednesday, January 30th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $170,000.00. The disclosure for this purchase can be found here. Insiders have sold 72,213 shares of company stock worth $1,264,156 in the last three months. Corporate insiders own 10.19% of the company’s stock.

Large investors have recently modified their holdings of the stock. Texas Permanent School Fund grew its position in shares of Oritani Financial by 2.5% during the fourth quarter. Texas Permanent School Fund now owns 25,305 shares of the bank’s stock worth $373,000 after acquiring an additional 606 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Oritani Financial by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 28,353 shares of the bank’s stock valued at $418,000 after purchasing an additional 623 shares during the last quarter. California Public Employees Retirement System raised its stake in Oritani Financial by 1.0% in the 4th quarter. California Public Employees Retirement System now owns 96,086 shares of the bank’s stock valued at $1,417,000 after purchasing an additional 947 shares during the last quarter. Teton Advisors Inc. grew its holdings in Oritani Financial by 2.0% in the 4th quarter. Teton Advisors Inc. now owns 60,392 shares of the bank’s stock valued at $891,000 after buying an additional 1,200 shares during the period. Finally, Legal & General Group Plc grew its holdings in Oritani Financial by 1.6% in the 4th quarter. Legal & General Group Plc now owns 90,678 shares of the bank’s stock valued at $1,339,000 after buying an additional 1,426 shares during the period. 66.87% of the stock is currently owned by hedge funds and other institutional investors.

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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