Oritani Financial (NASDAQ:ORIT) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of Oritani Financial (NASDAQ:ORIT) from a buy rating to a hold rating in a research note published on Saturday, BidAskClub reports.

Separately, ValuEngine lowered Oritani Financial from a hold rating to a sell rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $19.00.

NASDAQ ORIT traded up $0.08 on Friday, reaching $18.99. 338,200 shares of the company were exchanged, compared to its average volume of 224,900. The business’s fifty day moving average price is $18.46 and its 200 day moving average price is $17.42. The stock has a market capitalization of $861.98 million, a P/E ratio of 16.09 and a beta of 0.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. Oritani Financial has a fifty-two week low of $14.07 and a fifty-two week high of $19.50.

Oritani Financial (NASDAQ:ORIT) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. The company had revenue of $25.47 million for the quarter. Oritani Financial had a return on equity of 9.63% and a net margin of 31.46%.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.72 dividend on an annualized basis and a yield of 3.79%. This is an increase from Oritani Financial’s previous quarterly dividend of $0.18. Oritani Financial’s payout ratio is currently 61.02%.

A number of large investors have recently bought and sold shares of the business. First Allied Advisory Services Inc. raised its position in Oritani Financial by 150.9% in the third quarter. First Allied Advisory Services Inc. now owns 55,177 shares of the bank’s stock valued at $977,000 after purchasing an additional 33,186 shares during the period. ARP Americas LP raised its position in Oritani Financial by 123.7% in the third quarter. ARP Americas LP now owns 188,348 shares of the bank’s stock valued at $3,333,000 after purchasing an additional 104,153 shares during the period. Russell Investments Group Ltd. raised its position in Oritani Financial by 1.2% in the third quarter. Russell Investments Group Ltd. now owns 176,950 shares of the bank’s stock valued at $3,134,000 after purchasing an additional 2,057 shares during the period. 6 Meridian raised its position in Oritani Financial by 4.9% in the third quarter. 6 Meridian now owns 45,289 shares of the bank’s stock valued at $801,000 after purchasing an additional 2,119 shares during the period. Finally, California Public Employees Retirement System raised its position in Oritani Financial by 54.8% in the third quarter. California Public Employees Retirement System now owns 78,072 shares of the bank’s stock valued at $1,381,000 after purchasing an additional 27,632 shares during the period. Institutional investors own 67.92% of the company’s stock.

Oritani Financial Company Profile

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.

Further Reading: Stock Symbol

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