Insider Buying: Kearny Financial (NASDAQ:KRNY) Director Buys $43,114.50 in Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 4,950 shares of the company’s stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $8.71 per share, with a total value of $43,114.50. Following the completion of the acquisition, the director directly owned 34,650 shares in the company, valued at $301,801.50. This represents a 16.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Kearny Financial Stock Performance

NASDAQ:KRNY opened at $8.39 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $8.15 and a two-hundred day moving average price of $7.84. The company has a market capitalization of $543.17 million, a P/E ratio of 14.72 and a beta of 0.66. Kearny Financial has a twelve month low of $5.76 and a twelve month high of $8.89.

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

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 annualized dividend and a yield of 5.2%. Kearny Financial’s dividend payout ratio (DPR) is presently 77.19%.

Institutional Investors Weigh In On Kearny Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in KRNY. Adage Capital Partners GP L.L.C. grew its position in shares of Kearny Financial by 488.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock valued at $11,952,000 after purchasing an additional 1,339,062 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Kearny Financial by 373.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 918,125 shares of the savings and loans company’s stock valued at $5,931,000 after purchasing an additional 724,297 shares during the period. AQR Capital Management LLC grew its holdings in Kearny Financial by 36.4% in the fourth quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock valued at $14,993,000 after purchasing an additional 539,811 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Kearny Financial in the third quarter valued at approximately $1,583,000. Finally, First Trust Advisors LP grew its holdings in Kearny Financial by 402.0% in the third quarter. First Trust Advisors LP now owns 214,681 shares of the savings and loans company’s stock valued at $1,410,000 after purchasing an additional 171,916 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KRNY shares. Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. Piper Sandler started coverage on shares of Kearny Financial in a report on Monday, April 27th. They set an “overweight” rating and a $9.50 price target for the company. Finally, Weiss Ratings downgraded shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.50.

About Kearny Financial

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.