Oritani Financial (NASDAQ:ORIT) Rating Lowered to Hold at BidaskClub
A number of other research firms have also issued reports on ORIT. Zacks Investment Research upgraded shares of Oritani Financial from a sell rating to a hold rating in a report on Wednesday, June 26th. 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 report on Thursday, June 27th. Finally, ValuEngine lowered shares of Oritani Financial from a hold rating to a sell rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Oritani Financial currently has a consensus rating of Hold and a consensus price target of $19.00.
Shares of ORIT stock opened at $16.90 on Friday. The business has a 50 day moving average of $17.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.21. Oritani Financial has a one year low of $14.07 and a one year high of $18.30. The firm has a market cap of $771.37 million, a price-to-earnings ratio of 14.50 and a beta of 0.70.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a yield of 5.92%. Oritani Financial’s dividend payout ratio (DPR) is presently 84.75%.
Institutional investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc acquired a new stake in Oritani Financial during the 2nd quarter worth approximately $27,000. Versant Capital Management Inc raised its holdings in shares of Oritani Financial by 22.6% in the 1st quarter. Versant Capital Management Inc now owns 3,229 shares of the bank’s stock valued at $53,000 after purchasing an additional 595 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Oritani Financial by 127.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,844 shares of the bank’s stock valued at $147,000 after purchasing an additional 4,951 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Oritani Financial in the 4th quarter valued at $169,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Oritani Financial by 136.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,800 shares of the bank’s stock valued at $209,000 after purchasing an additional 6,800 shares in the last quarter. Institutional investors own 67.72% 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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