Oritani Financial Corp. (ORIT) Rating Lowered to Hold at ValuEngine

Oritani Financial Corp. (NASDAQ:ORIT) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Wednesday, September 6th.

Other equities research analysts also recently issued reports about the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $17.00 price target on shares of Oritani Financial Corp. in a report on Thursday, August 3rd. BidaskClub upgraded Oritani Financial Corp. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th.

Shares of Oritani Financial Corp. (NASDAQ ORIT) opened at 16.55 on Wednesday. Oritani Financial Corp. has a one year low of $15.30 and a one year high of $19.00. The company has a market cap of $725.95 million, a price-to-earnings ratio of 15.05 and a beta of 0.33. The company’s 50-day moving average is $16.08 and its 200-day moving average is $16.68.

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In other news, EVP Thomas Guinan sold 23,007 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $16.16, for a total value of $371,793.12. Following the completion of the transaction, the executive vice president now owns 108,211 shares of the company’s stock, valued at $1,748,689.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 119,492 shares of company stock valued at $1,943,034. Company insiders own 15.27% of the company’s stock.

Several institutional investors have recently made changes to their positions in ORIT. Louisiana State Employees Retirement System lifted its holdings in shares of Oritani Financial Corp. by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the bank’s stock valued at $267,000 after buying an additional 400 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Oritani Financial Corp. by 4.7% in the first quarter. Great West Life Assurance Co. Can now owns 51,867 shares of the bank’s stock valued at $879,000 after buying an additional 2,330 shares during the period. First Trust Advisors LP lifted its holdings in shares of Oritani Financial Corp. by 11.0% during the first quarter. First Trust Advisors LP now owns 84,723 shares of the bank’s stock valued at $1,440,000 after purchasing an additional 8,384 shares during the last quarter. Princeton Alpha Management LP purchased a new stake in shares of Oritani Financial Corp. during the first quarter valued at $288,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Oritani Financial Corp. by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 658,793 shares of the bank’s stock valued at $11,199,000 after purchasing an additional 14,414 shares during the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.

Oritani Financial Corp. Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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