Oritani Financial (NASDAQ:ORIT)‘s stock had its “hold” rating reissued by stock analysts at Sandler O’Neill in a research note issued to investors on Monday. They currently have a $16.50 target price on the bank’s stock. Sandler O’Neill’s price objective indicates a potential upside of 7.00% from the stock’s previous close.
Several other equities research analysts have also weighed in on the stock. BidaskClub upgraded shares of Oritani Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 20th. ValuEngine lowered shares of Oritani Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.75.
Oritani Financial (NASDAQ ORIT) traded up $0.37 on Monday, reaching $15.42. 144,500 shares of the company’s stock traded hands, compared to its average volume of 201,409. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $697.14, a price-to-earnings ratio of 16.06 and a beta of 0.42. Oritani Financial has a 12 month low of $15.05 and a 12 month high of $17.75.
In related news, Director John J. Skelly, Jr. sold 36,933 shares of the firm’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $15.82, for a total transaction of $584,280.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Philip Wyks sold 10,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.95, for a total transaction of $159,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 448,247 shares of company stock worth $7,129,174. 12.12% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Gradient Investments LLC acquired a new stake in shares of Oritani Financial during the fourth quarter worth $150,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Oritani Financial during the fourth quarter worth $174,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Oritani Financial during the third quarter worth $185,000. Teacher Retirement System of Texas acquired a new stake in shares of Oritani Financial during the fourth quarter worth $218,000. Finally, Municipal Employees Retirement System of Michigan raised 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 worth $243,000 after acquiring an additional 5,360 shares during the period. Institutional investors and hedge funds own 63.39% of the company’s stock.
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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 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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