Kearny Financial (NASDAQ:KRNY) Director Acquires 3,600 Shares

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 3,600 shares of the stock in a transaction on Thursday, June 18th. The shares were bought at an average price of $8.41 per share, with a total value of $30,276.00. Following the acquisition, the director owned 43,200 shares of the company’s stock, valued at $363,312. This trade represents a 9.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kearny Financial Stock Up 1.4%

Shares of NASDAQ:KRNY traded up $0.12 on Thursday, reaching $8.51. The company had a trading volume of 448,919 shares, compared to its average volume of 359,546. Kearny Financial has a 52-week low of $5.76 and a 52-week high of $8.89. The firm’s 50 day simple moving average is $8.15 and its 200-day simple moving average is $7.84. The firm has a market capitalization of $550.61 million, a PE ratio of 14.92 and a beta of 0.66. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The firm 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, 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 announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.2%. The ex-dividend date was Wednesday, May 6th. Kearny Financial’s payout ratio is 77.19%.

Analysts Set New Price Targets

KRNY has been the subject of several analyst reports. Weiss Ratings lowered shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Piper Sandler initiated coverage on shares of Kearny Financial in a research report on Monday, April 27th. They issued an “overweight” rating and a $9.50 price objective on the stock. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.50.

Institutional Trading of Kearny Financial

Several hedge funds and other institutional investors have recently made changes to their positions in KRNY. CANADA LIFE ASSURANCE Co boosted its position in shares of 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 purchasing an additional 1,605 shares in the last quarter. Russell Investments Group Ltd. increased its position in Kearny Financial by 15.6% during the 4th quarter. Russell Investments Group Ltd. now owns 11,930 shares of the savings and loans company’s stock valued at $88,000 after buying an additional 1,610 shares in the last quarter. First Trust Advisors LP increased its position in Kearny Financial by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company’s stock valued at $276,000 after buying an additional 1,668 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 during the last quarter. Finally, Quantinno Capital Management LP raised its stake in Kearny Financial by 4.1% in the second quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company’s stock valued at $305,000 after buying an additional 1,865 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.