Oritani Financial Corp. (NASDAQ:ORIT) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Sunday.

Separately, ValuEngine lowered Oritani Financial Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.

Shares of Oritani Financial Corp. (NASDAQ ORIT) traded down 0.87% during mid-day trading on Friday, hitting $17.00. The company had a trading volume of 149,485 shares. The company’s 50-day moving average is $16.89 and its 200 day moving average is $17.18. The company has a market capitalization of $740.93 million, a PE ratio of 13.16 and a beta of 0.34. Oritani Financial Corp. has a one year low of $15.35 and a one year high of $19.00.

Oritani Financial Corp. (NASDAQ:ORIT) last posted its earnings results on Friday, April 28th. The bank reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Oritani Financial Corp. had a return on equity of 10.56% and a net margin of 33.26%. The business had revenue of $48.54 million during the quarter, compared to analysts’ expectations of $27.70 million. On average, equities research analysts forecast that Oritani Financial Corp. will post $1.00 EPS for the current fiscal year.

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In other news, Director James J. Doyle, Jr. sold 50,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $17.29, for a total value of $864,500.00. Following the completion of the sale, the director now owns 290,000 shares of the company’s stock, valued at approximately $5,014,100. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas Guinan sold 59,772 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $16.85, for a total value of $1,007,158.20. The disclosure for this sale can be found here. In the last three months, insiders sold 133,772 shares of company stock valued at $2,276,358. 15.27% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in ORIT. Vanguard Group Inc. raised its stake in Oritani Financial Corp. by 8.1% in the first quarter. Vanguard Group Inc. now owns 3,964,084 shares of the bank’s stock worth $67,390,000 after buying an additional 296,772 shares during the period. Dimensional Fund Advisors LP raised its stake in Oritani Financial Corp. by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,710,712 shares of the bank’s stock worth $46,082,000 after buying an additional 172,780 shares during the period. Renaissance Technologies LLC raised its stake in Oritani Financial Corp. by 13.0% in the first quarter. Renaissance Technologies LLC now owns 1,690,425 shares of the bank’s stock worth $28,737,000 after buying an additional 195,100 shares during the period. State Street Corp raised its stake in Oritani Financial Corp. by 10.9% in the first quarter. State Street Corp now owns 1,197,925 shares of the bank’s stock worth $20,363,000 after buying an additional 117,729 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Oritani Financial Corp. by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 658,793 shares of the bank’s stock worth $11,199,000 after buying an additional 14,414 shares during the period. 64.61% of the stock is owned by institutional investors.

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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