Aperio Group LLC Sells 10,497 Shares of Oritani Financial Corp. (ORIT)
Aperio Group LLC lessened its holdings in Oritani Financial Corp. (NASDAQ:ORIT) by 21.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,626 shares of the bank’s stock after selling 10,497 shares during the quarter. Aperio Group LLC owned about 0.09% of Oritani Financial Corp. worth $632,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ORIT. California Public Employees Retirement System grew its holdings in Oritani Financial Corp. by 28.0% in the first quarter. California Public Employees Retirement System now owns 44,800 shares of the bank’s stock worth $762,000 after purchasing an additional 9,800 shares during the period. Legal & General Group Plc grew its holdings in Oritani Financial Corp. by 8.2% in the first quarter. Legal & General Group Plc now owns 70,472 shares of the bank’s stock worth $1,197,000 after purchasing an additional 5,340 shares during the period. Vanguard Group Inc. grew its holdings in Oritani Financial Corp. by 8.1% in the first quarter. Vanguard Group Inc. now owns 3,964,084 shares of the bank’s stock worth $67,390,000 after purchasing an additional 296,772 shares during the period. Geode Capital Management LLC grew its holdings in Oritani Financial Corp. by 3.6% in the first quarter. Geode Capital Management LLC now owns 406,984 shares of the bank’s stock worth $6,918,000 after purchasing an additional 14,230 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Oritani Financial Corp. by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 163,731 shares of the bank’s stock worth $2,784,000 after purchasing an additional 9,021 shares during the period. Institutional investors and hedge funds own 63.94% of the company’s stock.
Shares of Oritani Financial Corp. (NASDAQ ORIT) opened at $16.80 on Thursday. Oritani Financial Corp. has a fifty-two week low of $15.30 and a fifty-two week high of $19.00. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96. The company has a market cap of $775.19, a P/E ratio of 12.50 and a beta of 0.34.
Oritani Financial Corp. (NASDAQ:ORIT) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. Oritani Financial Corp. had a net margin of 31.03% and a return on equity of 10.73%. The firm had revenue of $28.59 million for the quarter, compared to analysts’ expectations of $28.30 million. sell-side analysts forecast that Oritani Financial Corp. will post 1.05 EPS for the current year.
The company also recently declared a special dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.45 per share. This represents a dividend yield of 4.17%. The ex-dividend date is Thursday, December 7th. Oritani Financial Corp.’s payout ratio is 61.95%.
ORIT has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Oritani Financial Corp. from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $17.00 price target on shares of Oritani Financial Corp. in a report on Thursday, August 3rd. FIG Partners reiterated a “market-perform” rating on shares of Oritani Financial Corp. in a report on Thursday, October 26th. Finally, BidaskClub upgraded shares of Oritani Financial Corp. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th.
In other news, EVP Thomas Guinan sold 23,007 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $16.16, for a total transaction of $371,793.12. Following the sale, the executive vice president now owns 108,211 shares in the company, valued at $1,748,689.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 12.12% of the company’s stock.
Oritani Financial Corp. Profile
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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