Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Oritani Financial Corp. (ORIT) Share Price
News stories about Oritani Financial Corp. (NASDAQ:ORIT) have trended somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Oritani Financial Corp. earned a media sentiment score of 0.07 on Accern’s scale. Accern also assigned media coverage about the bank an impact score of 46.1758195746425 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
A number of equities analysts recently commented on the company. ValuEngine lowered Oritani Financial Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub raised Oritani Financial Corp. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Oritani Financial Corp. in a research note on Thursday, August 3rd.
Oritani Financial Corp. (ORIT) opened at 16.80 on Friday. The firm has a market capitalization of $736.92 million, a price-to-earnings ratio of 15.27 and a beta of 0.33. Oritani Financial Corp. has a 1-year low of $15.30 and a 1-year high of $19.00. The company has a 50 day moving average price of $16.08 and a 200-day moving average price of $16.68.
In related news, EVP Thomas Guinan sold 71,478 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $16.29, for a total transaction of $1,164,376.62. Following the completion of the sale, the executive vice president now directly owns 135,204 shares in the company, valued at approximately $2,202,473.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 119,492 shares of company stock valued at $1,943,034 over the last 90 days. 15.27% of the stock is currently owned by company insiders.
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About Oritani Financial Corp.
Oritani Financial Corp. is a holding company for Oritani Bank (the Bank). The Bank offers a range of retail and commercial loan and deposit products. The Bank operates in the New Jersey Counties of Bergen, Hudson, Essex and Passaic. The Bank’s loan portfolio includes residential loans, residential commercial real estate loans, credit or grocery retail commercial real estate loans, other commercial real estate loans, and construction and land loans.
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