RBO & Co. LLC Cuts Stake in Oritani Financial Corp. (ORIT)
RBO & Co. LLC lowered its position in Oritani Financial Corp. (NASDAQ:ORIT) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,975 shares of the bank’s stock after selling 4,181 shares during the period. Oritani Financial Corp. accounts for approximately 1.8% of RBO & Co. LLC’s holdings, making the stock its 25th largest position. RBO & Co. LLC owned approximately 0.96% of Oritani Financial Corp. worth $6,785,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Oritani Financial Corp. by 77.7% in the second quarter. State of Alaska Department of Revenue now owns 7,553 shares of the bank’s stock worth $128,000 after buying an additional 3,303 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Oritani Financial Corp. by 5.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,063 shares of the bank’s stock worth $137,000 after buying an additional 405 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Oritani Financial Corp. by 8.5% in the first quarter. Mason Street Advisors LLC now owns 9,009 shares of the bank’s stock worth $153,000 after buying an additional 704 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Oritani Financial Corp. during the second quarter worth $192,000. Finally, ClariVest Asset Management LLC raised its stake in shares of Oritani Financial Corp. by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 11,681 shares of the bank’s stock worth $198,000 after buying an additional 592 shares in the last quarter. 63.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Oritani Financial Corp. (NASDAQ:ORIT) traded up 0.472% during midday trading on Wednesday, reaching $15.975. The company’s stock had a trading volume of 12,057 shares. Oritani Financial Corp. has a 1-year low of $15.35 and a 1-year high of $19.00. The stock has a 50 day moving average of $16.57 and a 200-day moving average of $16.84. The company has a market capitalization of $659.75 million, a P/E ratio of 14.523 and a beta of 0.33.
The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Thursday, August 3rd. Oritani Financial Corp.’s dividend payout ratio is presently 63.64%.
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A number of brokerages have weighed in on ORIT. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Oritani Financial Corp. in a report on Thursday, August 3rd. ValuEngine lowered Oritani Financial Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Oritani Financial Corp. from a “strong sell” rating to a “sell” rating in a report on Saturday.
In other Oritani Financial Corp. news, EVP Thomas Guinan sold 23,007 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $16.16, for a total value of $371,793.12. Following the completion of the transaction, the executive vice president now directly owns 108,211 shares of the company’s stock, valued at $1,748,689.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James J. Doyle, Jr. sold 50,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $17.29, for a total transaction of $864,500.00. Following the completion of the transaction, the director now directly owns 290,000 shares of the company’s stock, valued at $5,014,100. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,492 shares of company stock valued at $2,974,234. Insiders own 15.27% 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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