6 Meridian increased its holdings in Oritani Financial Corp. (NASDAQ:ORIT) by 4.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 45,289 shares of the bank’s stock after acquiring an additional 2,119 shares during the quarter. 6 Meridian’s holdings in Oritani Financial were worth $801,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of Oritani Financial by 1.4% in the second quarter. BlackRock Inc. now owns 6,131,547 shares of the bank’s stock worth $108,775,000 after buying an additional 86,645 shares in the last quarter. Invesco Ltd. raised its position in Oritani Financial by 1.2% during the second quarter. Invesco Ltd. now owns 1,710,123 shares of the bank’s stock valued at $30,338,000 after purchasing an additional 20,691 shares in the last quarter. Acadian Asset Management LLC raised its position in Oritani Financial by 54.6% during the second quarter. Acadian Asset Management LLC now owns 861,544 shares of the bank’s stock valued at $15,281,000 after purchasing an additional 304,168 shares in the last quarter. Cramer Rosenthal Mcglynn LLC purchased a new stake in Oritani Financial during the second quarter valued at about $14,023,000. Finally, Northern Trust Corp raised its position in Oritani Financial by 2.2% during the second quarter. Northern Trust Corp now owns 783,482 shares of the bank’s stock valued at $13,899,000 after purchasing an additional 16,632 shares in the last quarter. Institutional investors own 69.31% of the company’s stock.
A number of research firms have weighed in on ORIT. ValuEngine downgraded Oritani Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Sandler O’Neill upgraded Oritani Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $17.00 to $19.00 in a research report on Thursday, June 27th. BidaskClub upgraded Oritani Financial from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Zacks Investment Research upgraded Oritani Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Oritani Financial presently has an average rating of “Hold” and an average target price of $19.00.
Oritani Financial (NASDAQ:ORIT) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The firm had revenue of $25.86 million for the quarter, compared to the consensus estimate of $25.00 million. Oritani Financial had a return on equity of 9.69% and a net margin of 32.43%.
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.
Featured Article: How prevalent are 12b-1 fees?
Want to see what other hedge funds are holding ORIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oritani Financial Corp. (NASDAQ:ORIT).
Receive News & Ratings for Oritani Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oritani Financial and related companies with MarketBeat.com's FREE daily email newsletter.