Kearny Financial (NASDAQ:KRNY) Director Melvina Wong-Zaza Buys 1,560 Shares

Kearny Financial (NASDAQ:KRNY) Director Melvina Wong-Zaza acquired 1,560 shares of the stock in a transaction dated Thursday, September 17th. The stock was bought at an average cost of $9.63 per share, with a total value of $15,022.80. Following the completion of the purchase, the director owned 35,470 shares of the company’s stock, valued at approximately $341,576.10. The trade was a 4.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kearny Financial Stock Down 0.9%

Shares of NASDAQ:KRNY opened at $9.56 on Friday. The business’s 50 day moving average is $9.68 and its 200 day moving average is $8.67. Kearny Financial has a 12-month low of $6.22 and a 12-month high of $10.23. The stock has a market cap of $620.73 million, a price-to-earnings ratio of 16.77 and a beta of 0.63. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.50.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 EPS 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 company had revenue of $45.69 million during the quarter, compared to analysts’ expectations of $45.61 million. On average, sell-side analysts forecast that Kearny Financial will post 0.79 earnings per share for the current fiscal year.

Kearny Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a $0.11 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.44 annualized dividend and a dividend yield of 4.6%. Kearny Financial’s dividend payout ratio is currently 77.19%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KRNY. Piper Sandler boosted their price target on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Raymond James Financial started coverage on shares of Kearny Financial in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.75.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP bought a new stake in shares of Kearny Financial during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC grew its position in Kearny Financial by 103.4% during 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 period. Legal & General Group Plc bought a new position in Kearny Financial during the second quarter valued at about $54,000. Parallel Advisors LLC increased its holdings in Kearny Financial by 119.5% during the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after buying an additional 3,946 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Kearny Financial during the second quarter worth about $83,000. Institutional investors own 71.01% of the company’s stock.

Kearny Financial Company Profile

Kearny Financial Corp. is the holding company for Kearny Bank, a community-oriented savings bank serving customers in New Jersey and New York. Founded in 1884 as a mutual savings institution, Kearny Bank has historically focused on relationship-based banking for individuals, families, businesses and nonprofit organizations.

The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and retirement accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate loans, construction financing, commercial and industrial loans, and consumer credit.