Oritani Financial (ORIT) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Oritani Financial (NASDAQ:ORIT) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

ORIT has been the topic of several other research reports. BidaskClub lowered Oritani Financial from a sell rating to a strong sell rating in a research note on Thursday, September 27th. Zacks Investment Research lowered Oritani Financial from a hold rating to a sell rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $16.50.

ORIT traded up $0.06 on Wednesday, hitting $15.33. 9,093 shares of the company were exchanged, compared to its average volume of 240,112. Oritani Financial has a 12 month low of $14.24 and a 12 month high of $17.70. The firm has a market capitalization of $704.43 million, a PE ratio of 13.32 and a beta of 0.46. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.23 and a current ratio of 1.21.

Oritani Financial (NASDAQ:ORIT) last released its quarterly earnings data on Monday, October 29th. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). The business had revenue of $27.12 million during the quarter, compared to the consensus estimate of $27.50 million. Oritani Financial had a net margin of 28.23% and a return on equity of 9.57%. On average, research analysts forecast that Oritani Financial will post 1.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.00 annualized dividend and a yield of 6.52%. Oritani Financial’s dividend payout ratio is 86.96%.

In other news, Director James J. Doyle, Jr. bought 2,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were bought at an average price of $14.48 per share, with a total value of $28,960.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Philip Wyks sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $15.97, for a total value of $111,790.00. The disclosure for this sale can be found here. 10.19% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of ORIT. Nisa Investment Advisors LLC acquired a new position in shares of Oritani Financial in the third quarter valued at approximately $124,000. Acadian Asset Management LLC acquired a new position in shares of Oritani Financial in the third quarter valued at approximately $138,000. Piedmont Investment Advisors LLC acquired a new position in shares of Oritani Financial in the second quarter valued at approximately $150,000. FNY Investment Advisers LLC acquired a new position in shares of Oritani Financial in the third quarter valued at approximately $155,000. Finally, Lyell Wealth Management LP acquired a new position in shares of Oritani Financial in the second quarter valued at approximately $186,000. 63.08% of the stock is currently owned by institutional investors.

Oritani Financial Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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