Oritani Financial Corp. (ORIT) Director Purchases $46,260.00 in Stock

Oritani Financial Corp. (NASDAQ:ORIT) Director Judith Schumacher-Tilton purchased 3,000 shares of Oritani Financial stock in a transaction dated Monday, November 26th. The shares were bought at an average cost of $15.42 per share, for a total transaction of $46,260.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of ORIT stock traded up $0.05 during trading hours on Monday, hitting $15.34. 130,384 shares of the company were exchanged, compared to its average volume of 181,928. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.21 and a current ratio of 1.21. Oritani Financial Corp. has a one year low of $14.24 and a one year high of $17.70. The stock has a market capitalization of $695.59 million, a price-to-earnings ratio of 13.34 and a beta of 0.46.

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

The business also recently declared a special dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a dividend yield of 6.57%. Oritani Financial’s payout ratio is 86.96%.

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in Oritani Financial by 7.6% during the 2nd quarter. Bank of America Corp DE now owns 49,765 shares of the bank’s stock worth $806,000 after purchasing an additional 3,509 shares in the last quarter. Teachers Advisors LLC increased its holdings in Oritani Financial by 0.6% in the 3rd quarter. Teachers Advisors LLC now owns 699,783 shares of the bank’s stock valued at $10,882,000 after buying an additional 4,189 shares during the period. Legal & General Group Plc increased its holdings in Oritani Financial by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 84,130 shares of the bank’s stock valued at $1,363,000 after buying an additional 4,329 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Oritani Financial by 11.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 63,390 shares of the bank’s stock valued at $1,027,000 after buying an additional 6,500 shares during the period. Finally, Systematic Financial Management LP increased its holdings in Oritani Financial by 2.3% in the 2nd quarter. Systematic Financial Management LP now owns 294,395 shares of the bank’s stock valued at $4,769,000 after buying an additional 6,710 shares during the period. 64.21% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on ORIT. ValuEngine raised shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. BidaskClub raised shares of Oritani Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Zacks Investment Research cut shares of Oritani Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Finally, TheStreet cut shares of Oritani Financial from a “b” rating to a “c+” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Oritani Financial has an average rating of “Hold” and a consensus price target of $16.50.

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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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