Oritani Financial (NASDAQ:ORIT) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other research firms have also weighed in on ORIT. BidaskClub raised Oritani Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Piper Jaffray Companies reissued a “hold” rating and issued a $17.00 price objective on shares of Oritani Financial in a research report on Thursday, August 3rd. Finally, FIG Partners reissued a “market-perform” rating on shares of Oritani Financial in a research report on Thursday, October 26th.

Oritani Financial (NASDAQ ORIT) traded down $0.05 during mid-day trading on Friday, hitting $17.20. The stock had a trading volume of 234,303 shares, compared to its average volume of 198,361. Oritani Financial has a 1 year low of $15.30 and a 1 year high of $19.00. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $798.33, a price-to-earnings ratio of 12.87 and a beta of 0.35.

Oritani Financial (NASDAQ:ORIT) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Oritani Financial had a return on equity of 10.73% and a net margin of 31.03%. The firm had revenue of $28.59 million during the quarter, compared to analyst estimates of $28.30 million. equities analysts forecast that Oritani Financial will post 1.02 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. increased its position in Oritani Financial by 17.7% in the 2nd quarter. Prudential Financial Inc. now owns 275,965 shares of the bank’s stock valued at $4,705,000 after buying an additional 41,410 shares in the last quarter. Vanguard Group Inc. increased its position in Oritani Financial by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,018,352 shares of the bank’s stock valued at $68,514,000 after buying an additional 54,268 shares in the last quarter. State Street Corp increased its position in Oritani Financial by 3.9% in the 2nd quarter. State Street Corp now owns 1,244,149 shares of the bank’s stock valued at $21,214,000 after buying an additional 46,224 shares in the last quarter. California Public Employees Retirement System increased its position in Oritani Financial by 32.1% in the 2nd quarter. California Public Employees Retirement System now owns 59,200 shares of the bank’s stock valued at $1,009,000 after buying an additional 14,400 shares in the last quarter. Finally, Aperio Group LLC increased its position in Oritani Financial by 65.9% in the 2nd quarter. Aperio Group LLC now owns 48,123 shares of the bank’s stock valued at $820,000 after buying an additional 19,118 shares in the last quarter. 62.03% of the stock is owned by institutional investors and hedge funds.

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About Oritani Financial

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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