Insider Selling: Oritani Financial Corp. (ORIT) Insider Sells $71,135.00 in Stock
Oritani Financial Corp. (NASDAQ:ORIT) insider Kevin J. Lynch sold 4,100 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $17.35, for a total transaction of $71,135.00. Following the completion of the transaction, the insider now directly owns 741,237 shares in the company, valued at $12,860,461.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Oritani Financial Corp. (NASDAQ:ORIT) opened at 17.15 on Thursday. The company has a 50 day moving average of $15.87 and a 200-day moving average of $16.12. The stock has a market capitalization of $775.93 billion, a P/E ratio of 14.91 and a beta of 0.41. Oritani Financial Corp. has a 52-week low of $14.95 and a 52-week high of $17.63.
Oritani Financial Corp. (NASDAQ:ORIT) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Oritani Financial Corp. had a net margin of 27.92% and a return on equity of 9.21%. Equities research analysts anticipate that Oritani Financial Corp. will post $0.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 4th will be given a dividend of $0.175 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.08%. Oritani Financial Corp.’s payout ratio is currently 62.50%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in Oritani Financial Corp. during the third quarter worth approximately $6,386,000. BlackRock Fund Advisors boosted its position in Oritani Financial Corp. by 7.2% in the third quarter. BlackRock Fund Advisors now owns 2,618,903 shares of the company’s stock worth $41,169,000 after buying an additional 175,568 shares during the last quarter. Matarin Capital Management LLC purchased a new position in Oritani Financial Corp. during the third quarter worth approximately $2,664,000. Context BH Capital Management LP boosted its position in Oritani Financial Corp. by 273.1% in the third quarter. Context BH Capital Management LP now owns 219,514 shares of the company’s stock worth $3,451,000 after buying an additional 160,681 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Oritani Financial Corp. by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,412,430 shares of the company’s stock worth $38,574,000 after buying an additional 129,931 shares during the last quarter. 62.67% of the stock is currently owned by institutional investors and hedge funds.
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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