Shares of Oritani Financial Corp. (NASDAQ:ORIT) hit a new 52-week low on Thursday . The company traded as low as $15.30 and last traded at $15.35, with a volume of 383,958 shares trading hands. The stock had previously closed at $15.75.

ORIT has been the topic of several research analyst reports. ValuEngine upgraded shares of Oritani Financial Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. BidaskClub downgraded shares of Oritani Financial Corp. from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $17.00 target price on shares of Oritani Financial Corp. in a research note on Thursday, August 3rd.

The firm has a market capitalization of $633.94 million, a P/E ratio of 13.95 and a beta of 0.33. The stock’s 50 day moving average price is $16.32 and its 200 day moving average price is $16.77.

The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.70 annualized dividend and a yield of 4.56%. Oritani Financial Corp.’s dividend payout ratio is currently 63.64%.

In other news, Director James J. Doyle, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $17.29, for a total transaction of $864,500.00. Following the completion of the transaction, the director now directly owns 290,000 shares of the company’s stock, valued at approximately $5,014,100. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas Guinan sold 23,007 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $16.16, for a total transaction of $371,793.12. Following the transaction, the executive vice president now directly owns 108,211 shares of the company’s stock, valued at $1,748,689.76. The disclosure for this sale can be found here. Insiders have sold 169,492 shares of company stock valued at $2,807,534 over the last three months. 15.27% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ORIT. Louisiana State Employees Retirement System boosted its position in Oritani Financial Corp. by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the bank’s stock worth $267,000 after acquiring an additional 400 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Oritani Financial Corp. by 4.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 51,867 shares of the bank’s stock valued at $879,000 after purchasing an additional 2,330 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Oritani Financial Corp. by 11.0% in the 1st quarter. First Trust Advisors LP now owns 84,723 shares of the bank’s stock valued at $1,440,000 after purchasing an additional 8,384 shares during the last quarter. Princeton Alpha Management LP acquired a new position in shares of Oritani Financial Corp. in the 1st quarter valued at $288,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Oritani Financial Corp. by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 658,793 shares of the bank’s stock valued at $11,199,000 after purchasing an additional 14,414 shares during the last quarter. Hedge funds and other institutional investors own 63.77% of the company’s stock.

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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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