A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a buy rating to a hold rating in a research report on Wednesday, June 26th. Sandler O’Neill raised shares of Oritani Financial from a hold rating to a buy rating and upped their price objective for the stock from $17.00 to $19.00 in a research report on Thursday, June 27th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $19.00.
NASDAQ:ORIT opened at $17.63 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $16.64. The company has a market capitalization of $794.81 million, a P/E ratio of 14.82 and a beta of 0.71. Oritani Financial has a one year low of $14.07 and a one year high of $18.01.
Oritani Financial (NASDAQ:ORIT) last posted its earnings results on Monday, April 22nd. The bank reported $0.28 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 business had revenue of $25.20 million for the quarter, compared to the consensus estimate of $26.00 million. As a group, equities research analysts predict that Oritani Financial will post 1.14 earnings per share for the current year.
In other news, Director Judith Schumacher-Tilton acquired 5,000 shares of Oritani Financial stock in a transaction on Friday, April 26th. The stock was acquired at an average cost of $17.03 per share, with a total value of $85,150.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.19% of the company’s stock.
A number of hedge funds have recently modified their holdings of ORIT. Versant Capital Management Inc grew its position in Oritani Financial by 22.6% in the 1st quarter. Versant Capital Management Inc now owns 3,229 shares of the bank’s stock worth $53,000 after purchasing an additional 595 shares in the last quarter. BNP Paribas Arbitrage SA grew its position 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 purchasing an additional 4,951 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Oritani Financial in the 4th quarter worth about $169,000. Metropolitan Life Insurance Co. NY grew its position 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 purchasing an additional 10,163 shares in the last quarter. Finally, Brinker Capital Inc. bought a new stake in Oritani Financial in the 1st quarter worth about $203,000. 67.91% of the stock is owned by institutional investors and hedge funds.
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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