TD Asset Management Inc. trimmed its holdings in Oritani Financial Corp. (NASDAQ:ORIT) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,400 shares of the bank’s stock after selling 3,500 shares during the period. TD Asset Management Inc. owned 0.50% of Oritani Financial worth $4,034,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Aperio Group LLC raised its stake in Oritani Financial by 9.0% in the 2nd quarter. Aperio Group LLC now owns 77,664 shares of the bank’s stock valued at $1,378,000 after purchasing an additional 6,428 shares during the last quarter. KBC Group NV increased its stake in shares of Oritani Financial by 3.1% during the 2nd quarter. KBC Group NV now owns 41,898 shares of the bank’s stock valued at $743,000 after acquiring an additional 1,278 shares during the last quarter. ARP Americas LP acquired a new position in shares of Oritani Financial during the 2nd quarter valued at about $1,494,000. Virginia Retirement Systems ET AL increased its stake in shares of Oritani Financial by 1.4% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 67,200 shares of the bank’s stock valued at $1,192,000 after acquiring an additional 900 shares during the last quarter. Finally, NEXT Financial Group Inc acquired a new position in shares of Oritani Financial during the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 69.40% of the company’s stock.
Shares of NASDAQ:ORIT opened at $17.19 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.21. Oritani Financial Corp. has a 1 year low of $14.07 and a 1 year high of $18.30. The stock has a market capitalization of $781.29 million, a P/E ratio of 14.57 and a beta of 0.70. The stock has a 50-day simple moving average of $17.39 and a 200-day simple moving average of $17.05.
The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date was Thursday, August 1st. Oritani Financial’s payout ratio is currently 84.75%.
A number of research firms have recently commented on ORIT. Sandler O’Neill raised shares of Oritani Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.00 to $19.00 in a research note on Thursday, June 27th. Zacks Investment Research upgraded Oritani Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. ValuEngine cut Oritani Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, BidaskClub cut Oritani Financial from a “buy” rating to a “hold” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.00.
Oritani Financial Company Profile
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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