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

  • 11/7/2018 – Oritani Financial was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/6/2018 – Oritani Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 11/6/2018 – Oritani Financial was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 11/1/2018 – Oritani Financial was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/31/2018 – Oritani Financial was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/24/2018 – Oritani Financial was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 10/24/2018 – Oritani Financial was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/9/2018 – Oritani Financial was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 9/27/2018 – Oritani Financial was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 9/27/2018 – Oritani Financial was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.

Shares of ORIT traded up $0.37 during midday trading on Thursday, hitting $15.27. The stock had a trading volume of 14,494 shares, compared to its average volume of 180,807. Oritani Financial Corp. has a 1 year low of $14.24 and a 1 year high of $17.70. The company has a market cap of $694.64 million, a P/E ratio of 13.28 and a beta of 0.46. The company has a current ratio of 1.21, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93.

Oritani Financial (NASDAQ:ORIT) last announced its earnings results on Monday, October 29th. The bank reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.02). Oritani Financial had a net margin of 28.23% and a return on equity of 9.57%. The firm had revenue of $27.12 million during the quarter, compared to analysts’ expectations of $27.50 million. Analysts predict that Oritani Financial Corp. will post 1.1 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Thursday, November 8th. Oritani Financial’s dividend payout ratio is currently 86.96%.

In related news, Director James J. Doyle, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were purchased at an average cost of $14.48 per share, for a total transaction 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 dated Tuesday, September 11th. The stock was sold at an average price of $15.97, for a total transaction of $111,790.00. The disclosure for this sale can be found here. Corporate insiders own 10.19% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC grew its holdings in shares of Oritani Financial by 26.6% in the second quarter. Aperio Group LLC now owns 65,719 shares of the bank’s stock worth $1,065,000 after purchasing an additional 13,789 shares during the last quarter. BlueMountain Capital Management LLC grew its holdings in Oritani Financial by 117.3% during the 2nd quarter. BlueMountain Capital Management LLC now owns 21,606 shares of the bank’s stock worth $350,000 after acquiring an additional 11,661 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Oritani Financial by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 301,785 shares of the bank’s stock worth $4,632,000 after acquiring an additional 7,418 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Oritani Financial by 11.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 357,385 shares of the bank’s stock worth $5,558,000 after acquiring an additional 37,058 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Oritani Financial by 584.5% during the 1st quarter. Millennium Management LLC now owns 290,128 shares of the bank’s stock worth $4,453,000 after acquiring an additional 247,745 shares in the last quarter. Hedge funds and other institutional investors own 63.23% of the company’s stock.

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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