Insider Buying: Oritani Financial Corp. (ORIT) Director Purchases $28,960.00 in Stock

Oritani Financial Corp. (NASDAQ:ORIT) Director James J. Doyle, Jr. acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average cost of $14.48 per share, for a total transaction of $28,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NASDAQ:ORIT opened at $14.86 on Monday. The company has a market capitalization of $692.77 million, a P/E ratio of 12.92 and a beta of 0.46. The company has a current ratio of 1.21, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93. Oritani Financial Corp. has a 1 year low of $14.24 and a 1 year high of $17.70.

Oritani Financial (NASDAQ:ORIT) last posted its earnings results on Monday, October 29th. The bank reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The company had revenue of $27.12 million for the quarter, compared to the consensus estimate of $27.50 million. Oritani Financial had a return on equity of 9.57% and a net margin of 28.23%. As a group, equities analysts predict that Oritani Financial Corp. will post 1.1 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.73%. Oritani Financial’s payout ratio is presently 86.96%.

A number of research analysts recently issued reports on ORIT shares. BidaskClub cut shares of Oritani Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. ValuEngine cut shares of Oritani Financial from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th.

Several hedge funds and other institutional investors have recently bought and sold shares of ORIT. Wells Fargo & Company MN grew its stake in shares of Oritani Financial by 7.8% during the first quarter. Wells Fargo & Company MN now owns 110,577 shares of the bank’s stock worth $1,698,000 after buying an additional 7,999 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Oritani Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 126,461 shares of the bank’s stock worth $1,941,000 after buying an additional 19,811 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Oritani Financial by 31.5% during the first quarter. Russell Investments Group Ltd. now owns 133,362 shares of the bank’s stock worth $2,047,000 after buying an additional 31,925 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Oritani Financial by 2.5% during the first quarter. Principal Financial Group Inc. now owns 301,785 shares of the bank’s stock worth $4,632,000 after buying an additional 7,418 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Oritani Financial by 120.0% during the first quarter. Barclays PLC now owns 13,805 shares of the bank’s stock worth $212,000 after buying an additional 7,530 shares during the last quarter. 63.08% of the stock is currently owned by hedge funds and other institutional investors.

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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