The Oritani Financial Corp. (ORIT) Issues Quarterly Earnings Results

The Oritani Financial Corp. (ORIT) Issues Quarterly  Earnings Results

Oritani Financial Corp. (NASDAQ:ORIT) issued its earnings results on Wednesday. The bank reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27, Bloomberg Earnings reports. Oritani Financial Corp. had a net margin of 30.85% and a return on equity of 10.61%.

Oritani Financial Corp. (NASDAQ:ORIT) remained flat at $17.05 during mid-day trading on Thursday. 281,153 shares of the stock traded hands. The company has a market cap of $747.88 million, a PE ratio of 15.50 and a beta of 0.33. The firm has a 50 day moving average price of $16.69 and a 200-day moving average price of $16.73. Oritani Financial Corp. has a 12 month low of $15.30 and a 12 month high of $19.00.

Several analysts have commented on ORIT shares. ValuEngine raised shares of Oritani Financial Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. Piper Jaffray Companies reissued a “hold” rating and set a $17.00 price target on shares of Oritani Financial Corp. in a research report on Thursday, August 3rd. Finally, BidaskClub raised shares of Oritani Financial Corp. from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th.

In other news, EVP Thomas Guinan sold 25,007 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $16.27, for a total transaction of $406,863.89. Following the completion of the transaction, the executive vice president now directly owns 110,211 shares of the company’s stock, valued at $1,793,132.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 119,492 shares of company stock valued at $1,943,034. Corporate insiders own 12.12% 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.

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