Zacks: Oritani Financial Corp. (ORIT) Given $17.25 Average Target Price by Brokerages

Shares of Oritani Financial Corp. (NASDAQ:ORIT) have received a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.

Brokers have set a one year consensus target price of $17.25 for the company and are expecting that the company will post $0.28 EPS for the current quarter, according to Zacks. Zacks has also given Oritani Financial an industry rank of 166 out of 265 based on the ratings given to related companies.

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ORIT has been the subject of several research analyst reports. BidaskClub upgraded shares of Oritani Financial from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Sandler O’Neill restated a “hold” rating and issued a $16.50 price objective on shares of Oritani Financial in a report on Monday, March 26th. Finally, ValuEngine lowered shares of Oritani Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th.

In other news, insider Kevin J. Lynch sold 18,808 shares of Oritani Financial stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $16.00, for a total transaction of $300,928.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Skelly, Jr. sold 36,933 shares of Oritani Financial stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $15.82, for a total transaction of $584,280.06. The disclosure for this sale can be found here. Insiders have sold 448,247 shares of company stock valued at $7,129,174 over the last quarter. Company insiders own 12.12% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC lifted its holdings in shares of Oritani Financial by 13.4% during the fourth quarter. Aperio Group LLC now owns 42,654 shares of the bank’s stock valued at $700,000 after purchasing an additional 5,028 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Oritani Financial by 1.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 320,327 shares of the bank’s stock valued at $5,252,000 after purchasing an additional 5,329 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Oritani Financial by 58.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 14,460 shares of the bank’s stock valued at $243,000 after purchasing an additional 5,360 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Oritani Financial by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 88,188 shares of the bank’s stock valued at $1,486,000 after purchasing an additional 5,865 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Oritani Financial by 31.9% during the fourth quarter. Schroder Investment Management Group now owns 24,602 shares of the bank’s stock valued at $403,000 after purchasing an additional 5,953 shares during the last quarter. Hedge funds and other institutional investors own 63.39% of the company’s stock.

Shares of ORIT opened at $15.25 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.99. Oritani Financial has a one year low of $15.05 and a one year high of $17.75. The stock has a market capitalization of $713.35, a price-to-earnings ratio of 11.64 and a beta of 0.41.

Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings data on Monday, January 29th. The bank reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Oritani Financial had a net margin of 26.13% and a return on equity of 10.96%. The business had revenue of $28.19 million during the quarter, compared to analyst estimates of $28.80 million. sell-side analysts predict that Oritani Financial will post 1.08 EPS for the current fiscal year.

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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 in the United States. It accepts a range of deposit products, including 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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