Xact Kapitalforvaltning AB Buys Shares of 27,553 Kearny Financial (KRNY)

Xact Kapitalforvaltning AB bought a new position in Kearny Financial (NASDAQ:KRNY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 27,553 shares of the savings and loans company’s stock, valued at approximately $398,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Kearny Financial by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 4,888,652 shares of the savings and loans company’s stock worth $75,041,000 after purchasing an additional 281,128 shares during the period. Millennium Management LLC increased its stake in Kearny Financial by 234.1% in the fourth quarter. Millennium Management LLC now owns 1,246,611 shares of the savings and loans company’s stock worth $18,014,000 after purchasing an additional 873,526 shares during the period. JPMorgan Chase & Co. increased its stake in Kearny Financial by 13.0% in the third quarter. JPMorgan Chase & Co. now owns 569,296 shares of the savings and loans company’s stock worth $8,738,000 after purchasing an additional 65,553 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Kearny Financial by 1.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 385,413 shares of the savings and loans company’s stock worth $5,570,000 after purchasing an additional 3,716 shares during the period. Finally, First Trust Advisors LP increased its stake in Kearny Financial by 27.1% in the fourth quarter. First Trust Advisors LP now owns 134,815 shares of the savings and loans company’s stock worth $1,948,000 after purchasing an additional 28,773 shares during the period. Institutional investors and hedge funds own 65.85% of the company’s stock.

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KRNY opened at $13.05 on Friday. Kearny Financial has a 12-month low of $12.75 and a 12-month high of $15.63. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $1,028.90, a PE ratio of 56.74 and a beta of 0.53.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Tuesday, January 30th. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Kearny Financial had a return on equity of 1.80% and a net margin of 9.40%. The business had revenue of $30.10 million for the quarter.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Tuesday, March 6th.

A number of research firms have weighed in on KRNY. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $13.50 target price on shares of Kearny Financial in a research note on Friday, February 2nd. BidaskClub upgraded Kearny Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 31st.

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About Kearny Financial

Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.

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Institutional Ownership by Quarter for Kearny Financial (NASDAQ:KRNY)

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