Curtland Fields Buys 4,950 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 4,950 shares of the stock in a transaction on Wednesday, June 17th. The stock was purchased at an average cost of $8.34 per share, with a total value of $41,283.00. Following the completion of the purchase, the director directly owned 39,600 shares in the company, valued at $330,264. This trade represents a 14.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kearny Financial Stock Performance

Shares of Kearny Financial stock opened at $8.47 on Friday. Kearny Financial has a fifty-two week low of $5.76 and a fifty-two week high of $8.89. The business’s fifty day moving average is $8.17 and its two-hundred day moving average is $7.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm has a market cap of $548.35 million, a PE ratio of 14.86 and a beta of 0.66.

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

Kearny Financial Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KRNY. EverSource Wealth Advisors LLC grew its stake in shares of Kearny Financial by 103.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after buying an additional 1,753 shares in the last quarter. Osaic Holdings Inc. lifted its position in Kearny Financial by 11,688.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after acquiring an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Kearny Financial by 35.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after acquiring an additional 1,605 shares during the period. Parallel Advisors LLC boosted its holdings in Kearny Financial by 119.5% in the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after acquiring an additional 3,946 shares during the period. Finally, New York State Common Retirement Fund grew its position in Kearny Financial by 59.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock valued at $64,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KRNY shares. Weiss Ratings downgraded shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Piper Sandler initiated 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 on the stock. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” 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.