Oritani Financial Corp. (NASDAQ:ORIT) Short Interest Update

Oritani Financial Corp. (NASDAQ:ORIT) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,300,000 shares, a drop of 6.9% from the September 30th total of 2,470,000 shares. Approximately 6.0% of the shares of the stock are short sold. Based on an average trading volume of 213,000 shares, the days-to-cover ratio is currently 10.8 days.

Shares of NASDAQ:ORIT traded down $0.18 during trading on Monday, reaching $18.91. 2,998 shares of the company traded hands, compared to its average volume of 261,424. The firm has a market cap of $860.62 million, a P/E ratio of 16.03 and a beta of 0.69. The firm has a fifty day simple moving average of $18.37 and a 200 day simple moving average of $17.39. The company has a quick ratio of 1.21, a current ratio of 1.18 and a debt-to-equity ratio of 0.81. Oritani Financial has a 1-year low of $14.07 and a 1-year high of $19.50.

Oritani Financial (NASDAQ:ORIT) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $25.47 million for the quarter. Oritani Financial had a net margin of 31.46% and a return on equity of 9.63%.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Monday, November 4th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Friday, November 1st. This is an increase from Oritani Financial’s previous quarterly dividend of $0.18. Oritani Financial’s dividend payout ratio (DPR) is 61.02%.

A number of institutional investors and hedge funds have recently made changes to their positions in ORIT. Virginia Retirement Systems ET AL lifted its position in shares of Oritani Financial by 1.4% during the second quarter. Virginia Retirement Systems ET AL now owns 67,200 shares of the bank’s stock worth $1,192,000 after purchasing an additional 900 shares in the last quarter. 6 Meridian raised its stake in shares of Oritani Financial by 2.1% during the second quarter. 6 Meridian now owns 43,170 shares of the bank’s stock worth $766,000 after buying an additional 908 shares during the last quarter. Swiss National Bank raised its stake in shares of Oritani Financial by 1.5% during the second quarter. Swiss National Bank now owns 75,300 shares of the bank’s stock worth $1,336,000 after buying an additional 1,100 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Oritani Financial by 3.3% during the second quarter. UBS Asset Management Americas Inc. now owns 35,229 shares of the bank’s stock worth $625,000 after buying an additional 1,122 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Oritani Financial by 3.1% during the second quarter. KBC Group NV now owns 41,898 shares of the bank’s stock worth $743,000 after buying an additional 1,278 shares during the last quarter. Hedge funds and other institutional investors own 67.92% of the company’s stock.

A number of equities analysts recently commented on ORIT shares. BidaskClub lowered shares of Oritani Financial from a “buy” rating to a “hold” rating in a research note on Saturday. ValuEngine lowered shares of Oritani Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Oritani Financial currently has an average rating of “Hold” and a consensus price target of $19.00.

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.

Featured Story: The risks of owning bonds

Receive News & Ratings for Oritani Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oritani Financial and related companies with MarketBeat.com's FREE daily email newsletter.