State Street Corp increased its stake in shares of Oritani Financial Corp. (NASDAQ:ORIT) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,244,149 shares of the bank’s stock after acquiring an additional 46,224 shares during the period. State Street Corp owned about 3.01% of Oritani Financial Corp. worth $21,214,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in Oritani Financial Corp. by 77.7% during the second quarter. State of Alaska Department of Revenue now owns 7,553 shares of the bank’s stock worth $128,000 after acquiring an additional 3,303 shares during the period. Acrospire Investment Management LLC acquired a new stake in Oritani Financial Corp. during the second quarter worth about $160,000. BNP Paribas Arbitrage SA grew its holdings in Oritani Financial Corp. by 66.9% during the second quarter. BNP Paribas Arbitrage SA now owns 13,456 shares of the bank’s stock worth $229,000 after acquiring an additional 5,393 shares during the period. Tudor Investment Corp ET AL grew its holdings in Oritani Financial Corp. by 2.7% during the first quarter. Tudor Investment Corp ET AL now owns 14,102 shares of the bank’s stock worth $240,000 after acquiring an additional 373 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in Oritani Financial Corp. during the second quarter worth about $253,000. 63.71% of the stock is currently owned by hedge funds and other institutional investors.
Oritani Financial Corp. (NASDAQ:ORIT) opened at $16.45 on Friday. The stock has a market capitalization of $756.68, a P/E ratio of 12.20 and a beta of 0.34. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96. Oritani Financial Corp. has a 1 year low of $15.30 and a 1 year high of $19.00.
Oritani Financial Corp. (NASDAQ:ORIT) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $28.59 million for the quarter, compared to the consensus estimate of $28.30 million. Oritani Financial Corp. had a return on equity of 10.73% and a net margin of 31.03%. equities analysts forecast that Oritani Financial Corp. will post 1.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.70 dividend on an annualized basis and a yield of 4.26%. Oritani Financial Corp.’s dividend payout ratio is currently 61.95%.
In other Oritani Financial Corp. news, EVP Thomas Guinan sold 23,007 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $16.16, for a total transaction of $371,793.12. Following the transaction, the executive vice president now owns 108,211 shares in the company, valued at $1,748,689.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.12% of the company’s stock.
Several analysts recently commented on ORIT shares. ValuEngine raised Oritani Financial Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. BidaskClub raised Oritani Financial Corp. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $17.00 target price on shares of Oritani Financial Corp. in a report on Thursday, August 3rd. Finally, FIG Partners reaffirmed a “market-perform” rating on shares of Oritani Financial Corp. in a report on Thursday, October 26th.
About Oritani Financial Corp.
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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