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.
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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