Oritani Financial Corp. (ORIT) Director Sells $512,100.00 in Stock
Oritani Financial Corp. (NASDAQ:ORIT) Director James J. Doyle, Jr. sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $17.07, for a total value of $512,100.00. Following the transaction, the director now directly owns 270,000 shares of the company’s stock, valued at $4,608,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Oritani Financial Corp. (NASDAQ:ORIT) opened at 17.30 on Friday. Oritani Financial Corp. has a 12-month low of $14.95 and a 12-month high of $17.63. The company has a market capitalization of $740.01 million, a price-to-earnings ratio of 15.06 and a beta of 0.41. The stock’s 50 day moving average price is $15.92 and its 200 day moving average price is $16.12.
Oritani Financial Corp. (NASDAQ:ORIT) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.24. Oritani Financial Corp. had a net margin of 27.92% and a return on equity of 9.21%. On average, equities research analysts anticipate that Oritani Financial Corp. will post $0.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, November 4th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, November 2nd. Oritani Financial Corp.’s dividend payout ratio (DPR) is 62.50%.
Large investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC purchased a new stake in Oritani Financial Corp. during the second quarter worth about $120,000. Creative Planning boosted its stake in Oritani Financial Corp. by 47.7% in the second quarter. Creative Planning now owns 8,657 shares of the company’s stock worth $138,000 after buying an additional 2,794 shares during the period. SG Americas Securities LLC purchased a new stake in Oritani Financial Corp. during the third quarter worth about $142,000. Panagora Asset Management Inc. purchased a new stake in Oritani Financial Corp. during the second quarter worth about $173,000. Finally, BlackRock Inc. boosted its stake in Oritani Financial Corp. by 204.2% in the second quarter. BlackRock Inc. now owns 10,886 shares of the company’s stock worth $174,000 after buying an additional 7,308 shares during the period. Institutional investors own 62.67% of the company’s stock.
Oritani Financial Corp. Company Profile
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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