Oritani Financial’s (ORIT) Hold Rating Reaffirmed at Sandler O’Neill

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.

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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.

Oritani Financial (NASDAQ:ORIT) last posted its earnings results on Monday, January 29th. The bank reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $28.19 million for the quarter, compared to analyst estimates of $28.80 million. Oritani Financial had a net margin of 26.13% and a return on equity of 10.96%. research analysts forecast that Oritani Financial will post 1.08 earnings per share for the current fiscal year.

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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