Arizona State Retirement System lessened its holdings in Oritani Financial Corp. (NASDAQ:ORIT) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,669 shares of the bank’s stock after selling 4,449 shares during the period. Arizona State Retirement System owned approximately 0.12% of Oritani Financial worth $934,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Oritani Financial during the 1st quarter valued at $104,000. Piedmont Investment Advisors LLC purchased a new position in Oritani Financial in the second quarter worth $150,000. Lyell Wealth Management LP purchased a new position in Oritani Financial in the second quarter worth $186,000. Barclays PLC grew its position in Oritani Financial by 120.0% in the first quarter. Barclays PLC now owns 13,805 shares of the bank’s stock worth $212,000 after acquiring an additional 7,530 shares in the last quarter. Finally, First Allied Advisory Services Inc. purchased a new position in Oritani Financial in the first quarter worth $251,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.
In other news, SVP Philip Wyks sold 7,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $15.97, for a total transaction of $111,790.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.12% of the company’s stock.
Several research firms have issued reports on ORIT. BidaskClub upgraded shares of Oritani Financial from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. ValuEngine upgraded shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 17th.
Shares of NASDAQ:ORIT traded down $0.03 during midday trading on Friday, hitting $15.55. 64,492 shares of the stock traded hands, compared to its average volume of 173,387. The company has a market cap of $724.97 million, a price-to-earnings ratio of 13.52 and a beta of 0.38. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.07. Oritani Financial Corp. has a one year low of $15.00 and a one year high of $17.70.
Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings data on Tuesday, July 24th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $28.74 million during the quarter, compared to the consensus estimate of $27.60 million. Oritani Financial had a net margin of 27.44% and a return on equity of 9.30%. As a group, research analysts forecast that Oritani Financial Corp. will post 1.1 EPS for the current fiscal year.
About Oritani Financial
Oritani Financial Corp. operates as a savings and loan holding company for Oritani Bank that provides various banking services for individual and corporate customers. The company accepts a range of deposit products, such as non-interest and interest-bearing demand and NOW checking accounts, money market deposit accounts, savings accounts, retirement accounts, and time deposits.
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