Oritani Financial (ORIT) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Oritani Financial (NASDAQ:ORIT) from a sell rating to a strong sell rating in a research note published on Saturday morning.

Several other brokerages also recently commented on ORIT. ValuEngine raised Oritani Financial from a hold rating to a buy rating in a research note on Friday, December 1st. FIG Partners reissued a market-perform rating on shares of Oritani Financial in a research note on Thursday, October 26th.

Shares of Oritani Financial (ORIT) opened at $16.05 on Friday. The company has a market capitalization of $743.46, a P/E ratio of 16.72 and a beta of 0.38. Oritani Financial has a 52 week low of $15.30 and a 52 week high of $17.75. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.99.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a $0.25 dividend. The ex-dividend date is Thursday, February 8th. This is an increase from Oritani Financial’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a dividend yield of 6.23%. Oritani Financial’s dividend payout ratio is 104.17%.

In other news, SVP Philip Wyks sold 10,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.95, for a total value of $159,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.12% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ORIT. Gradient Investments LLC purchased a new stake in shares of Oritani Financial during the fourth quarter valued at approximately $150,000. Stone Ridge Asset Management LLC purchased a new stake in shares of Oritani Financial during the fourth quarter valued at approximately $174,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Oritani Financial during the third quarter valued at approximately $185,000. Teacher Retirement System of Texas purchased a new stake in shares of Oritani Financial during the fourth quarter valued at approximately $218,000. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Oritani Financial by 58.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 14,460 shares of the bank’s stock valued at $243,000 after acquiring an additional 5,360 shares during the last quarter. 62.57% of the stock is owned by institutional investors.

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Oritani Financial 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.

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