Principal Financial Group Inc. lowered its stake in Oritani Financial Corp. (NASDAQ:ORIT) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 313,941 shares of the bank’s stock after selling 3,009 shares during the quarter. Principal Financial Group Inc.’s holdings in Oritani Financial were worth $4,631,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Oritani Financial by 3.8% in the 4th quarter. BlackRock Inc. now owns 6,072,366 shares of the bank’s stock valued at $89,568,000 after acquiring an additional 222,302 shares during the period. Vanguard Group Inc. lifted its holdings in Oritani Financial by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,556,313 shares of the bank’s stock valued at $70,850,000 after purchasing an additional 163,193 shares in the last quarter. Vanguard Group Inc lifted its holdings in Oritani Financial by 3.7% in the 3rd quarter. Vanguard Group Inc now owns 4,556,313 shares of the bank’s stock valued at $70,850,000 after purchasing an additional 163,193 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Oritani Financial by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,847,573 shares of the bank’s stock valued at $56,752,000 after purchasing an additional 147,275 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Oritani Financial by 5.8% in the 3rd quarter. Renaissance Technologies LLC now owns 1,720,300 shares of the bank’s stock valued at $26,751,000 after purchasing an additional 94,633 shares in the last quarter. 66.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on ORIT. BidaskClub upgraded Oritani Financial from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research lowered Oritani Financial from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, TheStreet upgraded Oritani Financial from a “c+” rating to a “b” rating in a report on Thursday, January 24th.
In other news, SVP Philip Wyks sold 6,456 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.65, for a total transaction of $113,948.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith Schumacher-Tilton acquired 10,000 shares of the stock in a transaction dated Wednesday, January 30th. The shares were bought at an average cost of $17.00 per share, with a total value of $170,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 72,213 shares of company stock worth $1,264,156. 10.19% of the stock is owned by insiders.
NASDAQ ORIT opened at $17.35 on Tuesday. The firm has a market cap of $779.15 million, a PE ratio of 14.31 and a beta of 0.62. Oritani Financial Corp. has a 52 week low of $14.07 and a 52 week high of $18.01. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.21 and a current ratio of 1.21.
Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings data on Thursday, January 24th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $27.67 million for the quarter, compared to analyst estimates of $26.20 million. Oritani Financial had a net margin of 33.81% and a return on equity of 9.76%. Sell-side analysts expect that Oritani Financial Corp. will post 1.16 earnings per share for the current fiscal year.
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About Oritani Financial
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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