Oritani Financial Corp. (ORIT) Position Increased by Schroder Investment Management Group
Schroder Investment Management Group boosted its position in Oritani Financial Corp. (NASDAQ:ORIT) by 78.2% during the first quarter, Holdings Channel reports. The fund owned 28,467 shares of the bank’s stock after buying an additional 12,493 shares during the period. Schroder Investment Management Group’s holdings in Oritani Financial Corp. were worth $481,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in shares of Oritani Financial Corp. by 5.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,063 shares of the bank’s stock valued at $137,000 after buying an additional 405 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of Oritani Financial Corp. by 8.5% in the first quarter. Mason Street Advisors LLC now owns 9,009 shares of the bank’s stock valued at $153,000 after buying an additional 704 shares in the last quarter. Gradient Investments LLC bought a new stake in shares of Oritani Financial Corp. during the first quarter valued at about $156,000. First Citizens Bank & Trust Co. increased its stake in shares of Oritani Financial Corp. by 6.7% in the first quarter. First Citizens Bank & Trust Co. now owns 11,970 shares of the bank’s stock valued at $203,000 after buying an additional 755 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Oritani Financial Corp. during the first quarter valued at about $229,000. Institutional investors own 64.80% of the company’s stock.
Shares of Oritani Financial Corp. (ORIT) opened at 17.25 on Friday. Oritani Financial Corp. has a 12 month low of $15.27 and a 12 month high of $19.00. The stock has a market capitalization of $751.82 million, a P/E ratio of 13.35 and a beta of 0.36. The stock has a 50 day moving average price of $16.85 and a 200 day moving average price of $17.23.
Oritani Financial Corp. (NASDAQ:ORIT) last issued its earnings results on Friday, April 28th. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $48.54 million for the quarter, compared to analysts’ expectations of $27.70 million. Oritani Financial Corp. had a return on equity of 10.56% and a net margin of 33.26%. On average, analysts anticipate that Oritani Financial Corp. will post $1.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Friday, May 5th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, May 3rd. Oritani Financial Corp.’s payout ratio is 54.26%.
Separately, ValuEngine downgraded Oritani Financial Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
In other news, EVP Thomas Guinan sold 59,772 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $16.85, for a total value of $1,007,158.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philip Wyks sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $16.67, for a total value of $166,700.00. Following the completion of the sale, the senior vice president now directly owns 26,698 shares of the company’s stock, valued at approximately $445,055.66. The disclosure for this sale can be found here. Insiders sold a total of 133,772 shares of company stock worth $2,276,358 over the last 90 days. Insiders own 15.27% of the company’s stock.
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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