Oritani Financial (NASDAQ:ORIT) Downgraded by BidaskClub

Oritani Financial (NASDAQ:ORIT) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, March 20th, BidAskClub reports.

Separately, TheStreet upgraded shares of Oritani Financial from a “c+” rating to a “b” rating in a research report on Thursday, January 24th.

ORIT traded up $0.03 during midday trading on Wednesday, reaching $17.35. The company’s stock had a trading volume of 157,247 shares, compared to its average volume of 232,938. The stock has a market cap of $776.90 million, a PE ratio of 15.09 and a beta of 0.62. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.21 and a current ratio of 1.21. Oritani Financial has a 1 year low of $14.07 and a 1 year high of $18.01.

Oritani Financial (NASDAQ:ORIT) last issued its earnings results on Thursday, January 24th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $27.67 million for the quarter, compared to the consensus estimate of $26.20 million. Oritani Financial had a net margin of 33.81% and a return on equity of 9.76%. Equities research analysts predict that Oritani Financial will post 1.16 EPS for the current year.

In other Oritani Financial news, SVP Philip Wyks sold 6,456 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.65, for a total transaction of $113,948.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith Schumacher-Tilton bought 10,000 shares of Oritani Financial stock in a transaction on Wednesday, January 30th. The shares were acquired at an average cost of $17.00 per share, with a total value of $170,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 72,213 shares of company stock worth $1,264,156. 10.19% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Denali Advisors LLC increased its stake in shares of Oritani Financial by 26,271.2% in the first quarter. Denali Advisors LLC now owns 15,559 shares of the bank’s stock worth $259,000 after purchasing an additional 15,500 shares in the last quarter. 6 Meridian increased its stake in shares of Oritani Financial by 36.0% in the first quarter. 6 Meridian now owns 42,262 shares of the bank’s stock worth $703,000 after purchasing an additional 11,176 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Oritani Financial by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 493,295 shares of the bank’s stock worth $7,276,000 after purchasing an additional 24,144 shares in the last quarter. Norges Bank purchased a new stake in shares of Oritani Financial in the fourth quarter worth $10,540,000. Finally, Nordea Investment Management AB increased its stake in shares of Oritani Financial by 12.4% in the fourth quarter. Nordea Investment Management AB now owns 311,616 shares of the bank’s stock worth $4,595,000 after purchasing an additional 34,269 shares in the last quarter. 66.89% of the stock is owned by hedge funds and other institutional investors.

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.

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