Dimensional Fund Advisors LP increased its position in Oritani Financial Corp. (NASDAQ:ORIT) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,041,005 shares of the bank’s stock after purchasing an additional 138,133 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.57% of Oritani Financial worth $51,089,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schroder Investment Management Group grew its holdings in shares of Oritani Financial by 2.4% in the second quarter. Schroder Investment Management Group now owns 29,136 shares of the bank’s stock worth $501,000 after acquiring an additional 669 shares during the period. Pinebridge Investments L.P. grew its holdings in shares of Oritani Financial by 5.6% in the second quarter. Pinebridge Investments L.P. now owns 25,495 shares of the bank’s stock worth $435,000 after acquiring an additional 1,361 shares during the period. Thrivent Financial For Lutherans grew its holdings in shares of Oritani Financial by 6.6% in the second quarter. Thrivent Financial For Lutherans now owns 23,230 shares of the bank’s stock worth $396,000 after acquiring an additional 1,440 shares during the period. Voya Investment Management LLC grew its holdings in shares of Oritani Financial by 6.3% in the second quarter. Voya Investment Management LLC now owns 28,718 shares of the bank’s stock worth $490,000 after acquiring an additional 1,692 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Oritani Financial by 1.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 165,634 shares of the bank’s stock valued at $2,825,000 after purchasing an additional 1,903 shares during the period. Institutional investors own 62.03% of the company’s stock.
Several analysts have issued reports on the company. FIG Partners reissued a “market-perform” rating on shares of Oritani Financial in a report on Thursday, October 26th. BidaskClub lowered Oritani Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, ValuEngine raised Oritani Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st.
Shares of Oritani Financial Corp. (NASDAQ:ORIT) opened at $16.55 on Friday. Oritani Financial Corp. has a 52-week low of $15.30 and a 52-week high of $17.85. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $772.87, a PE ratio of 12.46 and a beta of 0.35.
Oritani Financial (NASDAQ:ORIT) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. Oritani Financial had a return on equity of 10.73% and a net margin of 31.03%. The business had revenue of $28.59 million for the quarter, compared to the consensus estimate of $28.30 million. analysts anticipate that Oritani Financial Corp. will post 1.02 EPS for the current fiscal year.
The firm also recently announced a special dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, December 7th. This represents a dividend yield of 4.17%. Oritani Financial’s dividend payout ratio is 61.95%.
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Oritani Financial 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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