Stone Ridge Asset Management LLC acquired a new position in shares of Oritani Financial Corp. (NASDAQ:ORIT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,583 shares of the bank’s stock, valued at approximately $174,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Aperio Group LLC raised its stake in shares of Oritani Financial by 13.4% in the 4th quarter. Aperio Group LLC now owns 42,654 shares of the bank’s stock valued at $700,000 after buying an additional 5,028 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Oritani Financial by 1.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 320,327 shares of the bank’s stock worth $5,252,000 after purchasing an additional 5,329 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Oritani Financial by 58.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,460 shares of the bank’s stock worth $243,000 after purchasing an additional 5,360 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Oritani Financial by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 88,188 shares of the bank’s stock worth $1,486,000 after purchasing an additional 5,865 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Oritani Financial by 31.9% during the 4th quarter. Schroder Investment Management Group now owns 24,602 shares of the bank’s stock worth $403,000 after purchasing an additional 5,953 shares in the last quarter. 63.39% of the stock is owned by institutional investors and hedge funds.
Shares of ORIT stock opened at $15.25 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $713.35, a price-to-earnings ratio of 11.64 and a beta of 0.41. Oritani Financial Corp. has a 52 week low of $15.05 and a 52 week high of $17.75.
Oritani Financial (NASDAQ:ORIT) last posted its quarterly earnings data on Monday, January 29th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Oritani Financial had a net margin of 26.13% and a return on equity of 10.96%. The company had revenue of $28.19 million for the quarter, compared to the consensus estimate of $28.80 million. analysts forecast that Oritani Financial Corp. will post 1.08 EPS for the current year.
In related news, insider Kevin J. Lynch sold 123,395 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $15.82, for a total transaction of $1,952,108.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Philip Wyks sold 10,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.95, for a total transaction of $159,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 448,247 shares of company stock worth $7,129,174. 12.12% of the stock is owned by corporate insiders.
A number of brokerages have commented on ORIT. BidaskClub raised shares of Oritani Financial from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. ValuEngine lowered shares of Oritani Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $16.50 target price on shares of Oritani Financial in a research note on Monday, March 26th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.75.
About Oritani Financial
Oritani Financial Corp. operates as a savings and loan holding company for Oritani Bank that provides various banking services for individual and corporate customers in the United States. It accepts a range of deposit products, including non-interest and interest-bearing demand and NOW checking accounts, money market deposit accounts, savings accounts, retirement accounts, and time deposits.
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