Timothy Swansson Sells 4,000 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) EVP Timothy Swansson sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total value of $30,400.00. Following the completion of the sale, the executive vice president directly owned 55,833 shares of the company’s stock, valued at approximately $424,330.80. The trade was a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kearny Financial Stock Performance

Shares of KRNY stock traded down $0.05 during trading on Thursday, reaching $7.29. 130,179 shares of the company’s stock were exchanged, compared to its average volume of 390,272. Kearny Financial has a twelve month low of $5.45 and a twelve month high of $8.50. The firm’s fifty day moving average price is $7.82 and its 200-day moving average price is $7.18. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $471.95 million, a PE ratio of 13.99 and a beta of 0.69.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a net margin of 9.41% and a return on equity of 4.26%. The business had revenue of $43.54 million for the quarter, compared to analyst estimates of $44.84 million.

Kearny Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.44 annualized dividend and a dividend yield of 6.0%. Kearny Financial’s payout ratio is presently 84.62%.

Institutional Trading of Kearny Financial

Large investors have recently modified their holdings of the stock. 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 purchasing an additional 1,753 shares in the last quarter. Osaic Holdings Inc. grew its stake in Kearny Financial by 11,688.6% during the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after buying an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in 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 valued at $45,000 after buying an additional 1,605 shares during the period. New York State Common Retirement Fund increased its holdings in Kearny Financial by 59.4% in the 4th quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock valued at $64,000 after buying an additional 3,200 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in shares of Kearny Financial in the 4th quarter valued at approximately $74,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on KRNY. Piper Sandler raised their price objective on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kearny Financial in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Kearny Financial has a consensus rating of “Hold” and a consensus target price of $8.00.

Kearny Financial Company 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.