Oritani Financial Corp. (NASDAQ:ORIT) Director Judith Schumacher-Tilton purchased 3,000 shares of Oritani Financial stock in a transaction dated Monday, November 26th. The shares were bought at an average cost of $15.42 per share, for a total transaction of $46,260.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of ORIT stock traded up $0.05 during trading hours on Monday, hitting $15.34. 130,384 shares of the company were exchanged, compared to its average volume of 181,928. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.21 and a current ratio of 1.21. Oritani Financial Corp. has a one year low of $14.24 and a one year high of $17.70. The stock has a market capitalization of $695.59 million, a price-to-earnings ratio of 13.34 and a beta of 0.46.
Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings results on Monday, October 29th. The bank reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). Oritani Financial had a return on equity of 9.57% and a net margin of 28.23%. The company had revenue of $27.12 million for the quarter, compared to the consensus estimate of $27.50 million. As a group, research analysts forecast that Oritani Financial Corp. will post 1.1 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in Oritani Financial by 7.6% during the 2nd quarter. Bank of America Corp DE now owns 49,765 shares of the bank’s stock worth $806,000 after purchasing an additional 3,509 shares in the last quarter. Teachers Advisors LLC increased its holdings in Oritani Financial by 0.6% in the 3rd quarter. Teachers Advisors LLC now owns 699,783 shares of the bank’s stock valued at $10,882,000 after buying an additional 4,189 shares during the period. Legal & General Group Plc increased its holdings in Oritani Financial by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 84,130 shares of the bank’s stock valued at $1,363,000 after buying an additional 4,329 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Oritani Financial by 11.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 63,390 shares of the bank’s stock valued at $1,027,000 after buying an additional 6,500 shares during the period. Finally, Systematic Financial Management LP increased its holdings in Oritani Financial by 2.3% in the 2nd quarter. Systematic Financial Management LP now owns 294,395 shares of the bank’s stock valued at $4,769,000 after buying an additional 6,710 shares during the period. 64.21% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on ORIT. ValuEngine raised shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. BidaskClub raised shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Zacks Investment Research cut shares of Oritani Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Finally, TheStreet cut shares of Oritani Financial from a “b” rating to a “c+” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Oritani Financial has an average rating of “Hold” and a consensus price target of $16.50.
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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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