Oritani Financial (ORIT) Downgraded by BidaskClub to Strong Sell

BidaskClub lowered shares of Oritani Financial (NASDAQ:ORIT) from a sell rating to a strong sell rating in a research note released on Tuesday.

A number of other research firms have also recently commented on ORIT. ValuEngine upgraded Oritani Financial from a hold rating to a buy rating in a research report on Monday, October 2nd. FIG Partners reiterated a market-perform rating on shares of Oritani Financial in a research report on Thursday, October 26th.

Shares of Oritani Financial (NASDAQ:ORIT) traded down $0.15 during midday trading on Tuesday, reaching $16.55. The company’s stock had a trading volume of 100,371 shares, compared to its average volume of 225,233. The stock has a market cap of $765.93, a P/E ratio of 14.65 and a beta of 0.36. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.23 and a quick ratio of 1.23. Oritani Financial has a 12 month low of $15.30 and a 12 month high of $17.85.

Oritani Financial (NASDAQ:ORIT) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.27. The company had revenue of $28.59 million during the quarter, compared to the consensus estimate of $28.30 million. Oritani Financial had a return on equity of 10.73% and a net margin of 31.03%. equities analysts anticipate that Oritani Financial will post 1.02 earnings per share for the current year.

The company also recently announced a special dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were given a dividend of $0.45 per share. This represents a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, December 7th. Oritani Financial’s dividend payout ratio (DPR) is currently 61.95%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of Oritani Financial by 17.7% during the second quarter. Prudential Financial Inc. now owns 275,965 shares of the bank’s stock worth $4,705,000 after purchasing an additional 41,410 shares in the last quarter. State Street Corp increased its position in shares of Oritani Financial by 3.9% during the second quarter. State Street Corp now owns 1,244,149 shares of the bank’s stock worth $21,214,000 after purchasing an additional 46,224 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Oritani Financial by 17.4% during the third quarter. Nordea Investment Management AB now owns 131,371 shares of the bank’s stock worth $2,207,000 after purchasing an additional 19,477 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Oritani Financial by 32.1% during the second quarter. California Public Employees Retirement System now owns 59,200 shares of the bank’s stock worth $1,009,000 after purchasing an additional 14,400 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Oritani Financial by 1.4% during the second quarter. Vanguard Group Inc. now owns 4,018,352 shares of the bank’s stock worth $68,514,000 after purchasing an additional 54,268 shares in the last quarter. Institutional investors and hedge funds own 62.03% of the company’s stock.

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Oritani Financial Company Profile

Oritani Financial Corp. is a holding company for Oritani Bank (the Bank). The Bank offers a range of retail and commercial loan and deposit products. The Bank operates in the New Jersey Counties of Bergen, Hudson, Essex and Passaic. The Bank’s loan portfolio includes residential loans, residential commercial real estate loans, credit or grocery retail commercial real estate loans, other commercial real estate loans, and construction and land loans.

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