Oritani Financial (NASDAQ:ORIT) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Oritani Financial (NASDAQ:ORIT) from a sell rating to a hold rating in a research report sent to investors on Thursday, BidAskClub reports.

A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Oritani Financial from a sell rating to a hold rating in a report on Wednesday, June 26th. Sandler O’Neill upgraded shares of Oritani Financial from a hold rating to a buy rating and increased their target price for the stock from $17.00 to $19.00 in a report on Thursday, June 27th. Finally, ValuEngine lowered shares of Oritani Financial from a hold rating to a sell rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Oritani Financial currently has a consensus rating of Hold and a consensus target price of $19.00.

Oritani Financial stock opened at $17.79 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average of $17.26 and a 200-day moving average of $17.06. The firm has a market cap of $812.25 million, a P/E ratio of 15.08 and a beta of 0.71. Oritani Financial has a 1-year low of $14.07 and a 1-year high of $18.55.

Oritani Financial (NASDAQ:ORIT) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $25.86 million during the quarter, compared to analyst estimates of $25.00 million. Oritani Financial had a net margin of 32.43% and a return on equity of 9.69%.

A number of institutional investors and hedge funds have recently modified their holdings of ORIT. NEXT Financial Group Inc purchased a new stake in Oritani Financial in the second quarter worth about $27,000. 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 worth $147,000 after buying an additional 4,951 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Oritani Financial by 136.0% in the second quarter. Nisa Investment Advisors LLC now owns 11,800 shares of the bank’s stock worth $209,000 after buying an additional 6,800 shares during the period. Pinebridge Investments L.P. lifted its holdings in Oritani Financial by 61.3% in the second quarter. Pinebridge Investments L.P. now owns 12,798 shares of the bank’s stock worth $227,000 after buying an additional 4,863 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Oritani Financial by 32.7% in the second quarter. Bank of Montreal Can now owns 13,450 shares of the bank’s stock worth $238,000 after buying an additional 3,318 shares during the period. Institutional investors and hedge funds own 69.11% 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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