Stock On Watch: Time to Reconsider Oritani Financial Corp. After Reaching All-Time High?

Stock On Watch: Time to Reconsider Oritani Financial Corp. After Reaching All Time High?

The stock of Oritani Financial Corp. (NASDAQ:ORIT) reached all time high today, Nov, 22 and still has $18.82 target or 6.00% above today’s $17.75 share price. This indicates more upside for the $805.51M company. This technical setup was reported by Barchart.com. If the $18.82 PT is reached, the company will be worth $48.33M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 123,777 shares traded hands. Oritani Financial Corp. (NASDAQ:ORIT) has risen 1.61% since April 20, 2016 and is uptrending. It has underperformed by 2.95% 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. Piper Jaffray initiated Oritani Financial Corp. (NASDAQ:ORIT) on Thursday, April 14 with “Neutral” rating. As per Tuesday, August 11, the company rating was upgraded 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.
Highlander Management Ltd Llc has 10,625 shares for 0.16% of their US portfolio. Delta Asset Mgmt Ltd Limited Liability Company Tn has 750 shares for 0% of their US portfolio. State Teachers Retirement Sys has 51,955 shares for 0% of their US portfolio. Renaissance Ltd Liability holds 0.05% of its portfolio in Oritani Financial Corp. (NASDAQ:ORIT) for 1.53M shares. Metropolitan Life Insur has 32,563 shares for 0% of their US portfolio. Northern Tru holds 0% or 688,882 shares in its portfolio. Martingale Asset Management Limited Partnership has invested 0.01% of its portfolio in Oritani Financial Corp. (NASDAQ:ORIT). The Florida-based Ladenburg Thalmann Fin Svcs has invested 0% in Oritani Financial Corp. (NASDAQ:ORIT). Navellier holds 15,860 shares or 0.04% of its portfolio. Ls Investment Advsrs Ltd Liability Corp accumulated 1,282 shares or 0% of the stock. Geode Cap Mngmt Ltd Liability last reported 0% of its portfolio in the stock. Tci Wealth Advsr Inc accumulated 0% or 110 shares. Brown Brothers Harriman & Communications owns 9,560 shares or 0% of their US portfolio. Cutter Brokerage has 20,855 shares for 0.14% of their US portfolio. Old Mutual Glob Invsts (Uk) accumulated 0.01% or 39,546 shares.

Another recent and important Oritani Financial Corp. (NASDAQ:ORIT) news was published by Marketwatch.com which published an article titled: “/quotes/zigman/3870025/realtime” on December 22, 2009.

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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