Goldman Sachs Group Inc. boosted its holdings in shares of Oritani Financial Corp. (NASDAQ:ORIT) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 134,905 shares of the bank’s stock after acquiring an additional 7,897 shares during the quarter. Goldman Sachs Group Inc. owned 0.29% of Oritani Financial worth $2,212,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Aperio Group LLC boosted its position in Oritani Financial by 13.4% during the 4th quarter. Aperio Group LLC now owns 42,654 shares of the bank’s stock worth $700,000 after acquiring an additional 5,028 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Oritani Financial by 1.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 320,327 shares of the bank’s stock worth $5,252,000 after acquiring an additional 5,329 shares during the period. JPMorgan Chase & Co. boosted its position in Oritani Financial by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 88,188 shares of the bank’s stock worth $1,486,000 after acquiring an additional 5,865 shares during the period. Schroder Investment Management Group boosted its position in Oritani Financial by 31.9% during the 4th quarter. Schroder Investment Management Group now owns 24,602 shares of the bank’s stock worth $403,000 after acquiring an additional 5,953 shares during the period. Finally, Gradient Investments LLC acquired a new stake in Oritani Financial during the 4th quarter worth about $150,000. Hedge funds and other institutional investors own 63.39% of the company’s stock.
Shares of Oritani Financial stock opened at $15.25 on Monday. The stock has a market cap of $713.35, a PE ratio of 11.64 and a beta of 0.41. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.23 and a quick ratio of 1.23. Oritani Financial Corp. has a 52-week low of $15.05 and a 52-week high of $17.75.
Oritani Financial (NASDAQ:ORIT) last announced its quarterly earnings results on Monday, January 29th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $28.19 million during the quarter, compared to analyst estimates of $28.80 million. Oritani Financial had a return on equity of 10.96% and a net margin of 26.13%. equities analysts expect that Oritani Financial Corp. will post 1.08 earnings per share for the current fiscal year.
In related news, insider Kevin J. Lynch sold 18,808 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $16.00, for a total value of $300,928.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John J. Skelly, Jr. sold 36,933 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $15.82, for a total value of $584,280.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 448,247 shares of company stock valued at $7,129,174. 12.12% of the stock is owned by corporate insiders.
A number of equities research analysts have commented on the company. Sandler O’Neill restated a “hold” rating and set a $16.50 price objective on shares of Oritani Financial in a research report on Monday, March 26th. BidaskClub upgraded Oritani Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 20th. Finally, ValuEngine lowered Oritani Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Oritani Financial currently has an average rating of “Hold” and a consensus target price of $16.75.
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Oritani Financial 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 in the United States. It accepts a range of deposit products, including 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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