Odyssean LLC Buys Shares of 63,262 Kearny Financial $KRNY

Odyssean LLC bought a new stake in Kearny Financial (NASDAQ:KRNY) during the 2nd quarter, Holdings Channel reports. The fund bought 63,262 shares of the savings and loans company’s stock, valued at approximately $598,000.

Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Kearny Financial during the second quarter worth approximately $84,461,000. Vanguard Group Inc. lifted its holdings in Kearny Financial by 4.2% in the third quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after buying an additional 133,683 shares during the period. AQR Capital Management LLC boosted its stake 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 acquiring an additional 539,811 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in 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 acquiring an additional 1,339,062 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Kearny Financial by 6.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock worth $10,851,000 after acquiring an additional 81,050 shares during the period. Institutional investors own 71.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Curtland E. Fields purchased 14,700 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was bought at an average price of $9.41 per share, with a total value of $138,327.00. Following the acquisition, the director directly owned 57,900 shares of the company’s stock, valued at approximately $544,839. This represents a 34.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Melvina Wong-Zaza acquired 3,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $8.57 per share, with a total value of $29,995.00. Following the transaction, the director owned 33,910 shares in the company, valued at $290,608.70. This represents a 11.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 44,273 shares of company stock worth $394,676. Company insiders own 7.44% of the company’s stock.

Kearny Financial Stock Performance

Shares of KRNY stock opened at $9.84 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.05 and a quick ratio of 1.03. The stock has a market cap of $638.91 million, a PE ratio of 17.26 and a beta of 0.64. The stock has a 50-day moving average of $9.43 and a 200-day moving average of $8.46. Kearny Financial has a one year low of $6.22 and a one year high of $9.97.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). Kearny Financial had a net margin of 10.45% and a return on equity of 4.90%. The firm had revenue of $45.69 million during the quarter, compared to analyst estimates of $45.61 million. As a group, sell-side analysts expect that Kearny Financial will post 0.8 earnings per share for the current year.

Kearny Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Wednesday, August 12th. Kearny Financial’s dividend payout ratio is presently 77.19%.

Wall Street Analysts Forecast Growth

KRNY has been the subject of several recent research reports. Piper Sandler upped their target price on shares of Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Weiss Ratings upgraded Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Raymond James Financial assumed coverage on Kearny Financial in a research report on Wednesday. They issued an “outperform” rating and a $11.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Kearny Financial 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.