Several other research firms have also issued reports on ORIT. TheStreet upgraded Oritani Financial from a c+ rating to a b rating in a research note on Thursday, January 24th. Zacks Investment Research lowered Oritani Financial from a buy rating to a hold rating in a research note on Tuesday, April 2nd.
Shares of Oritani Financial stock opened at $17.41 on Friday. The firm has a market cap of $779.15 million, a PE ratio of 15.14 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 12 month low of $14.07 and a 12 month high of $18.01.
Oritani Financial (NASDAQ:ORIT) last posted its earnings results on Thursday, January 24th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. Oritani Financial had a return on equity of 9.76% and a net margin of 33.81%. The company had revenue of $27.67 million for the quarter, compared to analyst estimates of $26.20 million. Sell-side analysts predict that Oritani Financial will post 1.16 earnings per share for the current year.
In other Oritani Financial news, insider Ann Jetton sold 16,000 shares of Oritani Financial stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $17.95, for a total value of $287,200.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Judith Schumacher-Tilton bought 10,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was bought at an average price of $17.00 per share, for a total transaction of $170,000.00. The disclosure for this purchase can be found here. Insiders sold 72,213 shares of company stock worth $1,264,156 in the last quarter. 10.19% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Denali Advisors LLC boosted its holdings in 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 acquiring an additional 15,500 shares in the last quarter. 6 Meridian boosted its holdings in 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 acquiring an additional 11,176 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 24,144 shares in the last quarter. Norges Bank acquired a new stake in Oritani Financial in the fourth quarter worth about $10,540,000. Finally, Nordea Investment Management AB boosted its holdings in 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 acquiring an additional 34,269 shares in the last quarter. 66.87% of the stock is owned by institutional investors and hedge funds.
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. 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.
Recommended Story: Are analyst ratings accurate?
Receive News & Ratings for Oritani Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oritani Financial and related companies with MarketBeat.com's FREE daily email newsletter.