Renaissance Technologies LLC Cuts Stock Position in Oritani Financial Corp. (NASDAQ:ORIT)
Renaissance Technologies LLC cut its holdings in Oritani Financial Corp. (NASDAQ:ORIT) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,972,000 shares of the bank’s stock after selling 18,800 shares during the quarter. Renaissance Technologies LLC owned 4.37% of Oritani Financial worth $34,983,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Oritani Financial by 4.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 223,603 shares of the bank’s stock valued at $3,967,000 after purchasing an additional 8,766 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Oritani Financial by 32.7% during the second quarter. Bank of Montreal Can now owns 13,450 shares of the bank’s stock worth $238,000 after purchasing an additional 3,318 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Oritani Financial by 15.5% during the second quarter. Russell Investments Group Ltd. now owns 174,893 shares of the bank’s stock worth $3,077,000 after purchasing an additional 23,409 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Oritani Financial during the second quarter worth about $1,911,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Oritani Financial by 167.3% during the second quarter. Allianz Asset Management GmbH now owns 55,629 shares of the bank’s stock worth $987,000 after purchasing an additional 34,820 shares in the last quarter. Institutional investors and hedge funds own 69.12% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Oritani Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. Sandler O’Neill raised shares of Oritani Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $19.00 in a report on Thursday, June 27th. BidaskClub lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, ValuEngine lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.00.
Oritani Financial (NASDAQ:ORIT) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $25.86 million during the quarter, compared to analysts’ expectations of $25.00 million. Oritani Financial had a net margin of 32.43% and a return on equity of 9.69%.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a yield of 5.45%. Oritani Financial’s dividend payout ratio is currently 84.75%.
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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