Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Acquires 3,000 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 3,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were purchased at an average price of $8.40 per share, for a total transaction of $25,200.00. Following the transaction, the director directly owned 24,900 shares of the company’s stock, valued at approximately $209,160. This represents a 13.70% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Kearny Financial Stock Up 1.1%

KRNY opened at $8.46 on Wednesday. The business’s 50-day simple moving average is $8.03 and its 200-day simple moving average is $7.76. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03. Kearny Financial has a one year low of $5.76 and a one year high of $8.53. The stock has a market capitalization of $547.70 million, a P/E ratio of 14.84 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $44.31 million for the quarter, compared to analysts’ expectations of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. Analysts anticipate that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given 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%.

Institutional Investors Weigh In On Kearny Financial

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in Kearny Financial by 103.4% in the 4th 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. boosted its holdings in Kearny Financial by 11,688.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after purchasing an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted 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 purchasing an additional 1,605 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Kearny Financial by 119.5% in the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after purchasing an additional 3,946 shares in the last quarter. Finally, New York State Common Retirement Fund boosted 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 purchasing an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KRNY. Piper Sandler began coverage on Kearny Financial in a research report on Monday, April 27th. They issued an “overweight” rating and a $9.50 price target on the stock. Zacks Research upgraded Kearny Financial to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Kearny Financial currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

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.