Oritani Financial (ORIT) Cut to “Strong Sell” at BidaskClub

Oritani Financial (NASDAQ:ORIT) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Other analysts have also issued reports about the stock. ValuEngine raised shares of Oritani Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. FIG Partners reaffirmed a “market-perform” rating on shares of Oritani Financial in a research note on Thursday, October 26th.

Shares of Oritani Financial (NASDAQ:ORIT) opened at $16.05 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.23 and a current ratio of 1.23. Oritani Financial has a 52 week low of $15.30 and a 52 week high of $17.75. The company has a market cap of $743.45, a PE ratio of 16.72 and a beta of 0.38.

In other Oritani Financial news, SVP Philip Wyks sold 10,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.95, for a total transaction of $159,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.12% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its holdings in shares of Oritani Financial by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 165,634 shares of the bank’s stock valued at $2,825,000 after purchasing an additional 1,903 shares during the period. Nationwide Fund Advisors increased its holdings in shares of Oritani Financial by 7.6% in the 2nd quarter. Nationwide Fund Advisors now owns 31,440 shares of the bank’s stock valued at $536,000 after purchasing an additional 2,218 shares during the period. Northern Trust Corp increased its holdings in shares of Oritani Financial by 2.1% in the 2nd quarter. Northern Trust Corp now owns 790,660 shares of the bank’s stock valued at $13,480,000 after purchasing an additional 16,468 shares during the period. Vanguard Group Inc. increased its holdings in shares of Oritani Financial by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,018,352 shares of the bank’s stock valued at $68,514,000 after purchasing an additional 54,268 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Oritani Financial by 32.1% in the 2nd quarter. California Public Employees Retirement System now owns 59,200 shares of the bank’s stock valued at $1,009,000 after purchasing an additional 14,400 shares during the period. 62.23% of the stock is owned by institutional investors.

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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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