Northern Trust Corp Increases Holdings in Oritani Financial Corp. (ORIT)
Northern Trust Corp raised its stake in shares of Oritani Financial Corp. (NASDAQ:ORIT) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 790,660 shares of the bank’s stock after buying an additional 16,468 shares during the period. Northern Trust Corp owned about 1.91% of Oritani Financial Corp. worth $13,480,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in Oritani Financial Corp. by 17.7% during the 2nd quarter. Prudential Financial Inc. now owns 275,965 shares of the bank’s stock valued at $4,705,000 after buying an additional 41,410 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in Oritani Financial Corp. by 6.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 21,790 shares of the bank’s stock valued at $370,000 after buying an additional 1,290 shares during the last quarter. Aperio Group LLC raised its stake in Oritani Financial Corp. by 65.9% during the 2nd quarter. Aperio Group LLC now owns 48,123 shares of the bank’s stock valued at $820,000 after buying an additional 19,118 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Oritani Financial Corp. by 19.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 314,998 shares of the bank’s stock valued at $5,370,000 after buying an additional 51,870 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Oritani Financial Corp. by 2.6% during the 1st quarter. Arizona State Retirement System now owns 20,102 shares of the bank’s stock valued at $342,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 63.60% of the company’s stock.
Oritani Financial Corp. (NASDAQ:ORIT) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Oritani Financial Corp. had a net margin of 31.03% and a return on equity of 10.73%. The business had revenue of $28.59 million during the quarter, compared to the consensus estimate of $28.30 million.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.70 dividend on an annualized basis and a yield of 4.13%. Oritani Financial Corp.’s dividend payout ratio is presently 61.95%.
A number of brokerages have weighed in on ORIT. FIG Partners reiterated a “market-perform” rating on shares of Oritani Financial Corp. in a research note on Thursday, October 26th. Piper Jaffray Companies restated a “hold” rating and issued a $17.00 price objective on shares of Oritani Financial Corp. in a research note on Thursday, August 3rd. BidaskClub lowered Oritani Financial Corp. from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th. Finally, ValuEngine upgraded Oritani Financial Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th.
In related news, EVP Thomas Guinan sold 71,478 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $16.29, for a total transaction of $1,164,376.62. Following the completion of the transaction, the executive vice president now directly owns 135,204 shares in the company, valued at $2,202,473.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 119,492 shares of company stock valued at $1,943,034 over the last 90 days. 12.12% of the stock is currently owned by 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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