Today: Today, Principal Financial Group Inc. decides to keep it stake in Oritani Financial Corp. (ORIT) to the level of $9,029,000

Today, Principal Financial Group Inc. decides to keep it stake in Oritani Financial Corp. (ORIT) to the level of $9,029,000

Principal Financial Group Inc. reduced its position in Oritani Financial Corp. (NASDAQ:ORIT) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 564,681 shares of the company’s stock after selling 4,303 shares during the period. Principal Financial Group Inc. owned 1.33% of Oritani Financial Corp. worth $9,029,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake 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 in the last quarter. Teacher Retirement System of Texas raised its position in Oritani Financial Corp. by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 33,180 shares of the company’s stock worth $531,000 after buying an additional 1,032 shares during the last quarter. Schroder Investment Management Group bought a new position in Oritani Financial Corp. during the second quarter worth $280,000. JPMorgan Chase & Co. raised its position in 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 during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Oritani Financial Corp. by 14.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 60,231 shares of the company’s stock worth $963,000 after buying an additional 7,585 shares during the last quarter. Institutional investors and hedge funds own 62.82% of the company’s stock.

Oritani Financial Corp. (NASDAQ:ORIT) opened at 15.50 on Tuesday. Oritani Financial Corp. has a 1-year low of $14.95 and a 1-year high of $17.63. The stock has a market cap of $664.45 million, a price-to-earnings ratio of 12.81 and a beta of 0.35. The firm’s 50 day moving average price is $15.78 and its 200-day moving average price is $16.28.

Oritani Financial Corp. (NASDAQ:ORIT) last announced its earnings results on Friday, July 29th. The company reported $0.25 earnings per share for the quarter, topping 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, equities analysts anticipate that Oritani Financial Corp. will post $0.95 earnings per share for the current year.

In other news, SVP Philip Wyks sold 2,000 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $15.80, for a total transaction of $31,600.00. Following the completion of the sale, the senior vice president now owns 16,698 shares in the company, valued at $263,828.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas Guinan sold 9,000 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $16.07, for a total transaction of $144,630.00. Following the sale, the executive vice president now owns 112,602 shares of the company’s stock, valued at approximately $1,809,514.14. The disclosure for this sale can be found here. Insiders own 16.17% of the company’s stock.

Oritani Financial Corp. 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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