Oritani Financial (ORIT) Lowered to “Sell” at BidaskClub


Oritani Financial (NASDAQ:ORIT) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Separately, TheStreet upgraded Oritani Financial from a “c+” rating to a “b” rating in a report on Thursday, January 24th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Oritani Financial has a consensus rating of “Hold” and an average price target of $16.50.


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Shares of NASDAQ:ORIT opened at $16.97 on Wednesday. The stock has a market cap of $773.30 million, a P/E ratio of 14.76 and a beta of 0.63. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.08. Oritani Financial has a one year low of $14.07 and a one year high of $18.01.

Oritani Financial (NASDAQ:ORIT) last announced its earnings results on Thursday, January 24th. The bank reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $27.67 million for the quarter, compared to the consensus estimate of $26.20 million. Oritani Financial had a return on equity of 9.76% and a net margin of 33.81%. On average, equities analysts forecast that Oritani Financial will post 1.16 earnings per share for the current year.


In other Oritani Financial news, insider Kevin J. Lynch sold 37,959 shares of Oritani Financial stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $17.26, for a total transaction of $655,172.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Judith Schumacher-Tilton acquired 10,000 shares of the company’s stock in a transaction on Wednesday, January 30th. The shares were acquired 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 have sold a total of 72,213 shares of company stock worth $1,264,156 over the last 90 days. 10.19% of the stock is owned by company insiders.


A number of hedge funds have recently bought and sold shares of ORIT. Bank of New York Mellon Corp increased its holdings in Oritani Financial by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 618,053 shares of the bank’s stock worth $10,013,000 after purchasing an additional 9,090 shares during the last quarter. First Trust Advisors LP increased its holdings in Oritani Financial by 92.7% during the 3rd quarter. First Trust Advisors LP now owns 127,132 shares of the bank’s stock worth $1,977,000 after purchasing an additional 61,174 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Oritani Financial during the 3rd quarter worth approximately $138,000. Robeco Institutional Asset Management B.V. grew its position in shares of Oritani Financial by 11.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 357,385 shares of the bank’s stock worth $5,558,000 after acquiring an additional 37,058 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Oritani Financial by 8.1% in the 3rd quarter. Wells Fargo & Company MN now owns 119,169 shares of the bank’s stock worth $1,853,000 after acquiring an additional 8,955 shares in the last quarter. Institutional investors own 65.30% of the company’s stock.


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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