Oritani Financial Corp. (NASDAQ:ORIT) has been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Analysts have set a 12 month consensus price objective of $17.00 for the company and are forecasting that the company will post $0.27 earnings per share for the current quarter, according to Zacks. Zacks has also given Oritani Financial an industry rank of 185 out of 256 based on the ratings given to its competitors.
Several equities research analysts have recently weighed in on ORIT shares. BidaskClub upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Sandler O’Neill upgraded shares of Oritani Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $17.00 to $19.00 in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research note on Wednesday.
Shares of Oritani Financial stock traded up $0.86 during trading hours on Thursday, reaching $17.38. 765,738 shares of the company were exchanged, compared to its average volume of 214,013. The company has a market capitalization of $730.80 million, a price-to-earnings ratio of 15.11 and a beta of 0.65. The firm has a fifty day moving average of $16.36. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.03. 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 quarterly earnings data on Monday, April 22nd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Oritani Financial had a return on equity of 9.68% and a net margin of 33.03%. The firm had revenue of $25.20 million for the quarter, compared to analysts’ expectations of $26.00 million. As a group, sell-side analysts forecast that Oritani Financial will post 1.14 earnings per share for the current year.
In other Oritani Financial news, Director Judith Schumacher-Tilton bought 5,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was acquired at an average price of $17.03 per share, for a total transaction of $85,150.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.19% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in ORIT. Versant Capital Management Inc lifted its position in shares of Oritani Financial by 22.6% during the 1st quarter. Versant Capital Management Inc now owns 3,229 shares of the bank’s stock valued at $53,000 after acquiring an additional 595 shares during the period. BNP Paribas Arbitrage SA grew its stake in Oritani Financial by 127.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,844 shares of the bank’s stock worth $147,000 after acquiring an additional 4,951 shares during the period. Bank of Montreal Can grew its stake in Oritani Financial by 820.0% in the 4th quarter. Bank of Montreal Can now owns 10,359 shares of the bank’s stock worth $152,000 after acquiring an additional 9,233 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in Oritani Financial in the 4th quarter worth approximately $169,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in Oritani Financial by 350.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,060 shares of the bank’s stock worth $193,000 after acquiring an additional 10,163 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.
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.
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