JPMorgan Chase & Co. grew its holdings in Oritani Financial Corp. (NASDAQ:ORIT) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,188 shares of the bank’s stock after purchasing an additional 5,865 shares during the period. JPMorgan Chase & Co. owned about 0.19% of Oritani Financial worth $1,486,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Acrospire Investment Management LLC bought a new stake in shares of Oritani Financial in the second quarter worth $160,000. BNP Paribas Arbitrage SA grew its holdings in shares of Oritani Financial by 66.9% in the second quarter. BNP Paribas Arbitrage SA now owns 13,456 shares of the bank’s stock worth $229,000 after acquiring an additional 5,393 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in shares of Oritani Financial by 58.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,460 shares of the bank’s stock worth $243,000 after acquiring an additional 5,360 shares during the period. Stevens Capital Management LP bought a new stake in shares of Oritani Financial in the second quarter worth $253,000. Finally, SG Americas Securities LLC bought a new stake in shares of Oritani Financial in the third quarter worth $307,000. 62.03% of the stock is owned by institutional investors and hedge funds.
Shares of Oritani Financial Corp. (NASDAQ ORIT) opened at $16.35 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.96. Oritani Financial Corp. has a fifty-two week low of $15.30 and a fifty-two week high of $18.15. The company has a market capitalization of $756.68, a price-to-earnings ratio of 14.47 and a beta of 0.36.
The business also recently declared a special dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were issued a dividend of $0.45 per share. This represents a yield of 4.17%. The ex-dividend date of this dividend was Thursday, December 7th. Oritani Financial’s dividend payout ratio is presently 61.95%.
Several analysts recently commented on the company. BidaskClub lowered Oritani Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine raised Oritani Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, FIG Partners reaffirmed a “market-perform” rating on shares of Oritani Financial in a report on Thursday, October 26th.
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Oritani Financial 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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