BlackRock Inc. Has $89.57 Million Stake in Oritani Financial Corp. (NASDAQ:ORIT)

BlackRock Inc. boosted its position in Oritani Financial Corp. (NASDAQ:ORIT) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,072,366 shares of the bank’s stock after acquiring an additional 222,302 shares during the period. BlackRock Inc. owned 13.35% of Oritani Financial worth $89,568,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its position in shares of Oritani Financial by 820.0% during the fourth quarter. Bank of Montreal Can now owns 10,359 shares of the bank’s stock worth $152,000 after purchasing an additional 9,233 shares during the period. Naples Global Advisors LLC acquired a new stake in Oritani Financial in the 4th quarter valued at approximately $180,000. Nisa Investment Advisors LLC increased its position in shares of Oritani Financial by 46.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,700 shares of the bank’s stock worth $173,000 after purchasing an additional 3,700 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of Oritani Financial during the 4th quarter worth approximately $217,000. Finally, MetLife Investment Advisors LLC increased its position in shares of Oritani Financial by 60.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 27,020 shares of the bank’s stock worth $420,000 after purchasing an additional 10,163 shares during the last quarter. Institutional investors and hedge funds own 66.87% of the company’s stock.

In other Oritani Financial news, insider Kevin J. Lynch sold 37,959 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $17.26, for a total value of $655,172.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin J. Lynch sold 11,254 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $17.60, for a total value of $198,070.40. The disclosure for this sale can be found here. Insiders have sold a total of 72,213 shares of company stock valued at $1,264,156 in the last three months. 10.19% of the stock is owned by insiders.

Several research firms have weighed in on ORIT. BidaskClub raised Oritani Financial from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Zacks Investment Research downgraded Oritani Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Finally, TheStreet upgraded Oritani Financial from a “c+” rating to a “b” rating in a research note on Thursday, January 24th.

ORIT traded down $0.13 during trading on Friday, hitting $17.35. The stock had a trading volume of 139,084 shares, compared to its average volume of 193,892. The company has a market capitalization of $780.51 million, a PE ratio of 15.09 and a beta of 0.62. Oritani Financial Corp. has a one year low of $14.07 and a one year high of $18.01. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.21 and a quick ratio of 1.21.

Oritani Financial (NASDAQ:ORIT) last released its earnings results on Thursday, January 24th. The bank reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Oritani Financial had a return on equity of 9.76% and a net margin of 33.81%. The firm had revenue of $27.67 million during the quarter, compared to the consensus estimate of $26.20 million. Equities analysts anticipate that Oritani Financial Corp. will post 1.16 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Oritani Financial (NASDAQ:ORIT)

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