Stock Mover of the Day: After Reaching 52-Week High, Is Oritani Financial Corp.’s Near-Term Analysis Positive?

Stock Mover of the Day: After Reaching 52 Week High, Is Oritani Financial Corp.'s Near Term Analysis Positive?

The stock of Oritani Financial Corp. (NASDAQ:ORIT) hit a new 52-week high and has $26.37 target or 49.00% above today’s $17.70 share price. The 8 months bullish chart indicates low risk for the $817.01 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $26.37 price target is reached, the company will be worth $400.33 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 46,236 shares traded hands. Oritani Financial Corp. (NASDAQ:ORIT) has risen 1.61% since April 19, 2016 and is uptrending. It has underperformed by 2.25% the S&P500.

Oritani Financial Corp. (NASDAQ:ORIT) Ratings Coverage

Out of 4 analysts covering Oritani Financial Corp (NASDAQ:ORIT), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. Oritani Financial Corp has been the topic of 5 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The rating was downgraded by Sandler O’Neill to “Hold” on Tuesday, October 27. The stock of Oritani Financial Corp. (NASDAQ:ORIT) has “Neutral” rating given on Thursday, April 14 by Piper Jaffray. The company was upgraded on Tuesday, August 11 by Zacks.

According to Zacks Investment Research, “Oritani Financial Corp. is the holding company for Oritani Savings Bank, a savings bank offering a full range of retail and commercial loan and deposit products. The Bank currently operates its main office and eighteen full service branches in the New Jersey Counties of Bergen, Hudson and Passaic.”

Insitutional Activity: The institutional sentiment increased to 1.07 in Q2 2016. Its up 0.03, from 1.04 in 2016Q1. The ratio is positive, as 6 funds sold all Oritani Financial Corp. shares owned while 49 reduced positions. 15 funds bought stakes while 42 increased positions. They now own 27.05 million shares or 2.79% less from 27.82 million shares in 2016Q1.
D E Shaw And owns 78,336 shares or 0% of their US portfolio. Wells Fargo & Mn has 52,830 shares for 0% of their US portfolio. Pinebridge Investments Limited Partnership holds 0% or 4,863 shares in its portfolio. Tfs Cap Limited Liability Co last reported 0.22% of its portfolio in the stock. Credit Agricole S A has invested 0% of its portfolio in Oritani Financial Corp. (NASDAQ:ORIT). The Iowa-based Principal Fincl Grp has invested 0.01% in Oritani Financial Corp. (NASDAQ:ORIT). Cap Fund Mgmt Sa, a France-based fund reported 17,500 shares. Martingale Asset Mngmt Lp has invested 0.01% of its portfolio in Oritani Financial Corp. (NASDAQ:ORIT). Comerica Fincl Bank, a Michigan-based fund reported 38,291 shares. Bokf Na has 153,441 shares for 0.09% of their US portfolio. Schroder Investment Mgmt Grp has 0% invested in the company for 17,529 shares. Credit Suisse Ag has 44,627 shares for 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Matarin Capital Management Lc has invested 0% of its portfolio in Oritani Financial Corp. (NASDAQ:ORIT). Robeco Institutional Asset Bv has invested 0.02% of its portfolio in Oritani Financial Corp. (NASDAQ:ORIT).

More news for Oritani Financial Corp. (NASDAQ:ORIT) were recently published by: Marketwatch.com, which released: “Virtual Stock Exchange” on December 22, 2009. Nasdaq.com‘s article titled: “Oritani Financial Corp. Announces the Election of John M. Fields, Jr. to …” and published on September 20, 2016 is yet another important article.

ORIT Company Profile

Oritani Financial Corp., incorporated on March 3, 2010, is a holding firm 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. As of March 31, 2016, the Bank’s net loans were $3,017.74 million. The Company’s investment securities are classified as held to maturity, including mortgage-backed securities, and available for sale, including equity securities and mortgage-backed securities. As of March 31, 2016, the Bank’s securities held to maturity were $152 million and securities available for sale were $215.86 million. The Company’s deposits include checking (non-interest and interest-bearing demand deposits), money market deposit accounts, savings accounts and time deposits. As of March 31, 2016, the Company’s total deposits were $2,224.6 million.

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