Bokf Na lowered its position in Oritani Financial Corp. (NASDAQ:ORIT) by 29.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,818 shares of the bank’s stock after selling 76,803 shares during the quarter. Bokf Na’s holdings in Oritani Financial were worth $2,681,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Oritani Financial by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 493,295 shares of the bank’s stock worth $7,276,000 after buying an additional 24,144 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Oritani Financial by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,847,573 shares of the bank’s stock worth $56,752,000 after buying an additional 147,275 shares in the last quarter. Clover Partners L.P. acquired a new position in Oritani Financial during the 4th quarter worth $1,335,000. Texas Permanent School Fund lifted its holdings in Oritani Financial by 2.5% during the 4th quarter. Texas Permanent School Fund now owns 25,305 shares of the bank’s stock worth $373,000 after buying an additional 606 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Oritani Financial by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 654,178 shares of the bank’s stock worth $9,649,000 after buying an additional 10,315 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.
Several research analysts have issued reports on the company. BidaskClub downgraded Oritani Financial from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. TheStreet raised Oritani Financial from a “c+” rating to a “b” rating in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $16.50.
In related news, insider Ann Jetton sold 16,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $17.95, for a total transaction of $287,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Philip Wyks sold 6,456 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.65, for a total value of $113,948.40. The disclosure for this sale can be found here. In the last three months, insiders sold 23,000 shares of company stock worth $410,913. 10.19% of the stock is currently owned by company insiders.
ORIT stock opened at $17.39 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $786.35 million, a PE ratio of 15.12 and a beta of 0.63. Oritani Financial Corp. has a twelve month low of $14.07 and a twelve month high of $18.01.
Oritani Financial (NASDAQ:ORIT) last posted its quarterly earnings results on Thursday, January 24th. The bank reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. The company had revenue of $27.67 million for the quarter, compared to the consensus estimate of $26.20 million. Oritani Financial had a return on equity of 9.76% and a net margin of 33.81%. On average, analysts expect that Oritani Financial Corp. will post 1.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Stockholders of record on Friday, February 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date of this dividend was Thursday, February 7th. Oritani Financial’s dividend payout ratio (DPR) is currently 86.96%.
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Oritani Financial Company Profile
Oritani Financial Corp. operates as a savings and loan holding company for Oritani Bank that provides various banking services for individual and corporate customers. The company accepts a range of deposit products, such as 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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