Kearny Financial (NASDAQ:KRNY) Director Acquires $41,328.00 in Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 4,800 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was acquired at an average cost of $8.61 per share, with a total value of $41,328.00. Following the completion of the purchase, the director directly owned 29,700 shares in the company, valued at approximately $255,717. This represents a 19.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Kearny Financial Price Performance

Shares of NASDAQ:KRNY traded down $0.07 on Thursday, reaching $8.57. The company’s stock had a trading volume of 93,080 shares, compared to its average volume of 350,659. Kearny Financial has a 52-week low of $5.76 and a 52-week high of $8.75. The company has a market cap of $554.63 million, a P/E ratio of 15.06 and a beta of 0.66. The company has a 50-day simple moving average of $8.06 and a 200 day simple moving average of $7.77. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. As a group, equities research analysts anticipate that Kearny Financial will post 0.61 EPS for the current fiscal year.

Kearny Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s dividend payout ratio (DPR) is presently 77.19%.

Hedge Funds Weigh In On Kearny Financial

Large investors have recently made changes to their positions in the company. M&T Bank Corp purchased a new position in shares of Kearny Financial during the 4th quarter worth about $1,145,000. Segall Bryant & Hamill LLC bought a new stake in Kearny Financial during the 3rd quarter valued at about $1,583,000. Bailard Inc. bought a new stake in Kearny Financial during the 4th quarter valued at about $711,000. Merit Financial Group LLC bought a new stake in Kearny Financial during the 4th quarter valued at about $88,000. Finally, CWM LLC lifted its holdings in Kearny Financial by 20.5% during the 4th quarter. CWM LLC now owns 93,602 shares of the savings and loans company’s stock valued at $694,000 after buying an additional 15,901 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research raised Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Finally, Piper Sandler started coverage on shares of Kearny Financial in a research note on Monday, April 27th. They set an “overweight” rating and a $9.50 price target for the company. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Kearny Financial presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Kearny Financial Company Profile

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company’s core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.