Clover Partners L.P. trimmed its position in shares of Oritani Financial Corp. (NASDAQ:ORIT) by 27.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 482,062 shares of the bank’s stock after selling 180,036 shares during the quarter. Oritani Financial accounts for about 7.5% of Clover Partners L.P.’s holdings, making the stock its 3rd largest holding. Clover Partners L.P.’s holdings in Oritani Financial were worth $7,906,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Oritani Financial by 4.8% during the 4th quarter. BlackRock Inc. now owns 5,271,205 shares of the bank’s stock valued at $86,447,000 after buying an additional 240,697 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Oritani Financial by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,041,005 shares of the bank’s stock valued at $51,089,000 after buying an additional 138,133 shares in the last quarter. State Street Corp raised its holdings in shares of Oritani Financial by 3.9% during the 2nd quarter. State Street Corp now owns 1,244,149 shares of the bank’s stock valued at $21,214,000 after buying an additional 46,224 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Oritani Financial by 13.4% during the 4th quarter. Teachers Advisors LLC now owns 704,494 shares of the bank’s stock valued at $11,554,000 after buying an additional 83,517 shares in the last quarter. Finally, Context BH Capital Management LP raised its holdings in shares of Oritani Financial by 5.4% during the 4th quarter. Context BH Capital Management LP now owns 414,830 shares of the bank’s stock valued at $6,803,000 after buying an additional 21,360 shares in the last quarter. 63.50% of the stock is currently owned by institutional investors.
Oritani Financial Corp. (NASDAQ ORIT) opened at $15.95 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $741.14, a P/E ratio of 16.61 and a beta of 0.42. Oritani Financial Corp. has a 12 month low of $15.30 and a 12 month high of $17.75.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.25 dividend. This is a boost from Oritani Financial’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend was Thursday, February 8th. Oritani Financial’s payout ratio is 104.17%.
A number of equities analysts recently weighed in on the company. BidaskClub raised Oritani Financial from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. ValuEngine cut Oritani Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th.
In other Oritani Financial news, Director Robert S. Hekemian, Jr. sold 11,334 shares of Oritani Financial stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $16.00, for a total value of $181,344.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Philip Wyks sold 10,000 shares of Oritani Financial stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.95, for a total value of $159,500.00. The disclosure for this sale can be found here. Insiders sold a total of 287,919 shares of company stock worth $4,592,785 over the last ninety days. Insiders own 12.12% of the company’s stock.
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Oritani Financial Company Profile
Oritani Financial Corp. is a holding company for Oritani Bank (the Bank). The Bank offers a range of retail and commercial loan and deposit products. The Bank operates in the New Jersey Counties of Bergen, Hudson, Essex and Passaic. The Bank’s loan portfolio includes residential loans, residential commercial real estate loans, credit or grocery retail commercial real estate loans, other commercial real estate loans, and construction and land loans.
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