Kearny Financial (NASDAQ:KRNY) Shares Up 0.6%

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Kearny Financial Corp. (NASDAQ:KRNY) rose 0.6% during mid-day trading on Wednesday . The stock traded as high as $8.54 and last traded at $8.58, approximately 22,285 shares changed hands during trading. A decline of 97% from the average daily volume of 658,754 shares. The stock had previously closed at $8.53.

KRNY has been the subject of several research reports. Piper Sandler cut shares of Kearny Financial from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $15.50 to $14.00 in a research note on Friday, January 31st. BidaskClub cut shares of Kearny Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 5th. Finally, TheStreet cut shares of Kearny Financial from a “b” rating to a “c+” rating in a research note on Friday, January 31st.

The company has a market cap of $721.55 million, a PE ratio of 18.27 and a beta of 0.50. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50 day moving average is $10.76 and its 200-day moving average is $12.86.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Kearny Financial had a net margin of 16.78% and a return on equity of 3.91%. The company had revenue of $39.16 million during the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.58%. The ex-dividend date was Tuesday, March 3rd. This is a boost from Kearny Financial’s previous quarterly dividend of $0.07. Kearny Financial’s dividend payout ratio is currently 68.09%.

In other Kearny Financial news, Director Catherine A. Lawton acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average price of $11.03 per share, with a total value of $110,300.00. 4.57% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can purchased a new stake in Kearny Financial during the 4th quarter valued at about $82,000. Bank of Montreal Can grew its stake in Kearny Financial by 37.8% during the 4th quarter. Bank of Montreal Can now owns 10,257 shares of the savings and loans company’s stock valued at $141,000 after acquiring an additional 2,813 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Kearny Financial during the 4th quarter valued at about $149,000. Cubist Systematic Strategies LLC acquired a new position in Kearny Financial in the 4th quarter valued at about $153,000. Finally, Man Group plc acquired a new position in Kearny Financial in the 4th quarter valued at about $171,000. 65.93% of the stock is owned by institutional investors.

About Kearny Financial (NASDAQ:KRNY)

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.

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