Sterling Capital Management LLC acquired a new position in shares of Oritani Financial Corp. (NASDAQ:ORIT) during the 3rd quarter, Holdings Channel reports. The fund acquired 62,228 shares of the bank’s stock, valued at approximately $968,000.

Other large investors have also bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in Oritani Financial during the third quarter worth about $124,000. Acadian Asset Management LLC bought a new stake in Oritani Financial during the third quarter worth about $138,000. Piedmont Investment Advisors LLC bought a new stake in Oritani Financial during the second quarter worth about $150,000. FNY Investment Advisers LLC bought a new stake in Oritani Financial during the third quarter worth about $155,000. Finally, Lyell Wealth Management LP bought a new position in shares of Oritani Financial in the second quarter worth approximately $186,000. 63.08% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. BidaskClub upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Zacks Investment Research downgraded shares of Oritani Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, TheStreet downgraded shares of Oritani Financial from a “b” rating to a “c+” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Oritani Financial currently has an average rating of “Hold” and an average price target of $16.50.

In related news, SVP Philip Wyks sold 7,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $15.97, for a total transaction of $111,790.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James J. Doyle, Jr. acquired 2,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average price of $14.48 per share, for a total transaction of $28,960.00. The disclosure for this purchase can be found here. Corporate insiders own 10.19% of the company’s stock.

Shares of NASDAQ ORIT opened at $15.00 on Friday. The company has a market capitalization of $711.89 million, a PE ratio of 13.04 and a beta of 0.46. Oritani Financial Corp. has a 52-week low of $14.24 and a 52-week high of $17.70. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.23 and a current ratio of 1.21.

Oritani Financial (NASDAQ:ORIT) last issued its earnings results on Monday, October 29th. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). The firm had revenue of $27.12 million during the quarter, compared to the consensus estimate of $27.50 million. Oritani Financial had a return on equity of 9.57% and a net margin of 28.23%. On average, research analysts anticipate that Oritani Financial Corp. will post 1.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 6.67%. Oritani Financial’s dividend payout ratio is presently 86.96%.

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Oritani Financial Company 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. 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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Institutional Ownership by Quarter for Oritani Financial (NASDAQ:ORIT)

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