American International Group Inc. reduced its stake in shares of Oritani Financial Corp. (NASDAQ:ORIT) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,694 shares of the bank’s stock after selling 4,495 shares during the period. American International Group Inc. owned 0.06% of Oritani Financial Corp. worth $403,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Oritani Financial Corp. by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,537,932 shares of the bank’s stock valued at $47,586,000 after buying an additional 88,210 shares in the last quarter. State Street Corp increased its stake in shares of Oritani Financial Corp. by 14.3% in the fourth quarter. State Street Corp now owns 1,080,196 shares of the bank’s stock valued at $20,254,000 after buying an additional 135,240 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Oritani Financial Corp. by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 658,793 shares of the bank’s stock valued at $11,199,000 after buying an additional 14,414 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Oritani Financial Corp. by 1.3% in the fourth quarter. Teachers Advisors LLC now owns 575,679 shares of the bank’s stock valued at $10,794,000 after buying an additional 7,324 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Oritani Financial Corp. during the fourth quarter valued at about $10,303,000. 64.61% of the stock is currently owned by institutional investors.
Shares of Oritani Financial Corp. (ORIT) opened at 17.00 on Monday. The stock has a 50 day moving average price of $16.89 and a 200 day moving average price of $17.18. Oritani Financial Corp. has a 12 month low of $15.35 and a 12 month high of $19.00. The firm has a market capitalization of $740.93 million, a P/E ratio of 13.16 and a beta of 0.34.
Oritani Financial Corp. (NASDAQ:ORIT) last released its quarterly earnings data on Friday, April 28th. The bank reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $48.54 million for the quarter, compared to analyst estimates of $27.70 million. Oritani Financial Corp. had a net margin of 33.26% and a return on equity of 10.56%. On average, analysts expect that Oritani Financial Corp. will post $1.00 earnings per share for the current year.
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Several equities research analysts have recently issued reports on ORIT shares. ValuEngine downgraded Oritani Financial Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub downgraded Oritani Financial Corp. from a “sell” rating to a “strong sell” rating in a research report on Sunday.
In other news, SVP Philip Wyks sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $16.67, for a total transaction of $166,700.00. Following the transaction, the senior vice president now directly owns 26,698 shares in the company, valued at approximately $445,055.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicholas Antonaccio sold 14,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $17.00, for a total transaction of $238,000.00. Following the transaction, the director now owns 99,453 shares in the company, valued at $1,690,701. The disclosure for this sale can be found here. Insiders have sold a total of 133,772 shares of company stock worth $2,276,358 over the last 90 days. 15.27% of the stock is owned by company insiders.
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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