Piper Jaffray Initiates Coverage on Oritani Financial Corp. to Neutral

Piper Jaffray Initiates Coverage on Oritani Financial Corp.(NASDAQ:ORIT). The shares have been rated Neutral. The rating by Piper Jaffray was issued on Apr 14, 2016.

Oritani Financial Corp. (ORIT) made into the market gainers list on Mondays trading session with the shares advancing 0.99% or 0.17 points. Due to strong positive momentum, the stock ended at $17.32, which is also near the day’s high of $17.37. The stock began the session at $17.11 and the volume stood at 1,54,119 shares. The 52-week high of the shares is $17.48 and the 52 week low is $14.45. The company has a current market capitalization of $769 M and it has 4,44,02,197 shares in outstanding.

Oritani Financial Corp.(ORIT) last announced its earnings results on Oct 26, 2015 for Fiscal Year 2016 and Q1.Company reported revenue of $24.15M. Analysts had an estimated revenue of $23.83M. Earnings per share were $0.29. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Mar 18, 2016, John M Jr Fields (EVP and CFO) sold 63,813 shares at $16.75 per share price.Also, On Mar 16, 2016, Michael A Debernardi (EVP and COO) sold 9,605 shares at $16.92 per share price.On Mar 9, 2016, Nicholas Antonaccio (director) sold 13,000 shares at $17.16 per share price, according to the Form-4 filing with the securities and exchange commission.

Oritani Financial Corp. is a holding company for Oritani Bank (the Bank). The Bank’s principal business consists of attracting retail and commercial bank deposits from the public in the areas surrounding its corporate office in the Township of Washington New Jersey. It invests those deposits together with funds generated from operations in commercial real estate loans one- to four-family residential mortgage loans as well as in second mortgage and equity loans and investment securities. The Bank provides a range of deposit banking services to individual and corporate customers in the New Jersey counties of Bergen Hudson Essex and Passaic. It provides loans to individual and corporate customers in New Jersey as well as corporate customers primarily in portions of the states of New York and Pennsylvania. Its primary sources of funds are deposits borrowings and principal and interest payments on loans and securities.

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