First Allied Advisory Services Inc. bought a new position in shares of Oritani Financial Corp. (NASDAQ:ORIT) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,400 shares of the bank’s stock, valued at approximately $251,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Oritani Financial in the first quarter valued at approximately $104,000. Gradient Investments LLC acquired a new stake in Oritani Financial in the fourth quarter valued at approximately $150,000. Stone Ridge Asset Management LLC acquired a new stake in Oritani Financial in the fourth quarter valued at approximately $174,000. Teacher Retirement System of Texas acquired a new stake in Oritani Financial in the fourth quarter valued at approximately $218,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Oritani Financial in the fourth quarter valued at approximately $276,000. 61.05% of the stock is owned by institutional investors and hedge funds.
Oritani Financial opened at $17.00 on Friday, MarketBeat Ratings reports. Oritani Financial Corp. has a twelve month low of $15.00 and a twelve month high of $17.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $790.15 million, a PE ratio of 12.98 and a beta of 0.43.
Oritani Financial (NASDAQ:ORIT) last posted its earnings results on Thursday, April 26th. The bank reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Oritani Financial had a return on equity of 9.02% and a net margin of 22.22%. The company had revenue of $27.93 million for the quarter. equities research analysts anticipate that Oritani Financial Corp. will post 1.08 EPS for the current fiscal year.
ORIT has been the subject of a number of research reports. ValuEngine cut Oritani Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. BidaskClub upgraded Oritani Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 20th. Finally, Sandler O’Neill restated a “hold” rating and issued a $16.50 target price on shares of Oritani Financial in a report on Monday, March 26th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Oritani Financial has a consensus rating of “Hold” and an average target price of $16.75.
Oritani Financial 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 in the United States. It accepts a range of deposit products, including 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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