Systematic Financial Management LP Sells 35,546 Shares of Oritani Financial Corp. (ORIT)
Systematic Financial Management LP lessened its holdings in shares of Oritani Financial Corp. (NASDAQ:ORIT) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 329,268 shares of the bank’s stock after selling 35,546 shares during the quarter. Systematic Financial Management LP owned approximately 0.80% of Oritani Financial Corp. worth $5,614,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial For Lutherans boosted 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 worth $370,000 after purchasing an additional 1,290 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Oritani Financial Corp. by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the bank’s stock worth $267,000 after purchasing an additional 400 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Oritani Financial Corp. by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 658,793 shares of the bank’s stock worth $11,199,000 after purchasing an additional 14,414 shares during the last quarter. Comerica Bank boosted its stake in Oritani Financial Corp. by 5.2% during the 1st quarter. Comerica Bank now owns 42,652 shares of the bank’s stock worth $729,000 after purchasing an additional 2,093 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its stake in Oritani Financial Corp. by 5.3% during the 1st quarter. ClariVest Asset Management LLC now owns 11,681 shares of the bank’s stock worth $198,000 after purchasing an additional 592 shares during the last quarter. 63.77% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $17.00 target price on shares of Oritani Financial Corp. in a research note on Thursday, August 3rd. BidaskClub cut shares of Oritani Financial Corp. from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th. Finally, ValuEngine cut shares of Oritani Financial Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
Shares of Oritani Financial Corp. (ORIT) opened at 15.80 on Tuesday. Oritani Financial Corp. has a 52 week low of $15.30 and a 52 week high of $19.00. The firm has a market cap of $652.52 million, a PE ratio of 14.36 and a beta of 0.33. The firm’s 50-day moving average is $16.21 and its 200 day moving average is $16.74.
The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, August 3rd. Oritani Financial Corp.’s dividend payout ratio is currently 63.64%.
In other news, EVP Thomas Guinan sold 71,478 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $16.29, for a total value of $1,164,376.62. Following the completion of the transaction, the executive vice president now owns 135,204 shares in the company, valued at $2,202,473.16. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 119,492 shares of company stock valued at $1,943,034. Company insiders own 15.27% of the company’s stock.
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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