Oritani Financial Corp. (ORIT) Insider Sells $1,162,459.89 in Stock
Oritani Financial Corp. (NASDAQ:ORIT) insider Kevin J. Lynch sold 72,973 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $15.93, for a total transaction of $1,162,459.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Oritani Financial Corp. (NASDAQ ORIT) opened at $15.95 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.99. Oritani Financial Corp. has a 12-month low of $15.30 and a 12-month high of $17.75. The stock has a market cap of $738.82, a price-to-earnings ratio of 13.40 and a beta of 0.42.
Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings data on Monday, January 29th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Oritani Financial had a net margin of 26.13% and a return on equity of 10.96%. The company had revenue of $28.19 million during the quarter, compared to the consensus estimate of $28.80 million. research analysts expect that Oritani Financial Corp. will post 1.08 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Oritani Financial by 12.8% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 155,600 shares of the bank’s stock worth $2,552,000 after acquiring an additional 17,600 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Oritani Financial during the fourth quarter worth $276,000. Teachers Advisors LLC increased its position in shares of Oritani Financial by 13.4% during the fourth quarter. Teachers Advisors LLC now owns 704,494 shares of the bank’s stock worth $11,554,000 after acquiring an additional 83,517 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Oritani Financial by 15.8% during the fourth quarter. Two Sigma Advisers LP now owns 117,024 shares of the bank’s stock worth $1,919,000 after acquiring an additional 15,987 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Oritani Financial by 6.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 134,905 shares of the bank’s stock worth $2,212,000 after acquiring an additional 7,897 shares in the last quarter. 61.82% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on ORIT shares. BidaskClub downgraded shares of Oritani Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. ValuEngine raised shares of Oritani Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st.
About Oritani Financial
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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