UBS Asset Management Americas Inc. reduced its stake in shares of Oritani Financial Corp. (NASDAQ:ORIT) by 61.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 12,098 shares of the bank’s stock after selling 19,300 shares during the period. UBS Asset Management Americas Inc.’s holdings in Oritani Financial Corp. were worth $227,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in Oritani Financial Corp. during the fourth quarter valued at $10,303,000. RBO & Co. LLC bought a new stake in Oritani Financial Corp. during the fourth quarter valued at $8,643,000. BlackRock Fund Advisors boosted its stake in Oritani Financial Corp. by 7.2% in the third quarter. BlackRock Fund Advisors now owns 2,618,903 shares of the bank’s stock valued at $41,169,000 after buying an additional 175,568 shares during the last quarter. State Street Corp boosted its stake in 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 64.61% of the company’s stock.
Oritani Financial Corp. (NASDAQ:ORIT) last released its quarterly earnings data on Friday, April 28th. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Oritani Financial Corp. had a return on equity of 17.78% and a net margin of 50.00%. The company had revenue of $48.54 million during the quarter, compared to the consensus estimate of $27.70 million.
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Separately, ValuEngine cut shares of Oritani Financial Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
In other news, Director James J. Doyle, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $17.29, for a total value of $864,500.00. Following the completion of the transaction, the director now owns 290,000 shares of the company’s stock, valued at $5,014,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Philip Wyks sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $16.67, for a total value of $166,700.00. Following the completion of the transaction, 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 133,772 shares of company stock valued at $2,276,358 in the last ninety days. 15.27% of the stock is currently owned by insiders.
Oritani Financial Corp. Company 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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