The Prudential Financial Inc. Cuts Position in Oritani Financial Corp. (ORIT)

The Prudential Financial Inc. Cuts Position in Oritani Financial Corp. (ORIT)

Prudential Financial Inc. cut its position in shares of Oritani Financial Corp. (NASDAQ:ORIT) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 364,385 shares of the company’s stock after selling 30,780 shares during the period. Prudential Financial Inc. owned about 0.86% of Oritani Financial Corp. worth $5,826,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Oritani Financial Corp. by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,412,430 shares of the company’s stock worth $38,574,000 after buying an additional 129,931 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Oritani Financial Corp. by 2.1% in the first quarter. Renaissance Technologies LLC now owns 1,594,300 shares of the company’s stock worth $27,055,000 after buying an additional 32,400 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Oritani Financial Corp. by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,129,971 shares of the company’s stock worth $19,176,000 after buying an additional 16,210 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Oritani Financial Corp. by 1.5% in the first quarter. Teachers Advisors Inc. now owns 573,504 shares of the company’s stock worth $9,732,000 after buying an additional 8,299 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Oritani Financial Corp. by 27.0% in the second quarter. JPMorgan Chase & Co. now owns 432,385 shares of the company’s stock worth $6,913,000 after buying an additional 91,967 shares in the last quarter. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Oritani Financial Corp. (NASDAQ:ORIT) opened at 15.54 on Wednesday. The stock has a 50 day moving average of $15.83 and a 200-day moving average of $16.33. Oritani Financial Corp. has a 12 month low of $14.95 and a 12 month high of $17.63. The company has a market cap of $666.17 million, a price-to-earnings ratio of 12.84 and a beta of 0.35.

Oritani Financial Corp. (NASDAQ:ORIT) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. Oritani Financial Corp. had a net margin of 28.23% and a return on equity of 9.58%. On average, analysts forecast that Oritani Financial Corp. will post $0.95 EPS for the current year.

In other Oritani Financial Corp. news, EVP Thomas Guinan sold 9,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $16.07, for a total transaction of $144,630.00. Following the transaction, the executive vice president now directly owns 112,602 shares in the company, valued at approximately $1,809,514.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Philip Wyks sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $15.80, for a total value of $31,600.00. Following the transaction, the senior vice president now owns 16,698 shares in the company, valued at $263,828.40. The disclosure for this sale can be found here. Company insiders own 16.17% of the company’s stock.

About Oritani Financial Corp.

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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