Renaissance Technologies LLC Cuts Position in Kearny Financial $KRNY

Renaissance Technologies LLC decreased its position in Kearny Financial (NASDAQ:KRNY) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,632,416 shares of the savings and loans company’s stock after selling 88,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Kearny Financial were worth $19,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of 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. increased its position in Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 4,091 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Kearny Financial by 35.6% during the fourth 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 lifted its position 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 valued at $55,000 after purchasing an additional 3,946 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Kearny Financial by 59.4% during the fourth 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 during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Curtland E. Fields bought 14,700 shares of the stock in a transaction on Monday, July 27th. The stock was bought at an average price of $9.41 per share, for a total transaction of $138,327.00. Following the completion of the acquisition, the director directly owned 57,900 shares in the company, valued at approximately $544,839. This represents a 34.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Melvina Wong-Zaza bought 3,500 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $29,995.00. Following the transaction, the director directly owned 33,910 shares in the company, valued at approximately $290,608.70. This represents a 11.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 39,500 shares of company stock valued at $349,524 in the last three months. 7.44% of the stock is currently owned by insiders.

Kearny Financial Stock Up 0.4%

NASDAQ:KRNY opened at $9.63 on Friday. Kearny Financial has a 1-year low of $5.76 and a 1-year high of $9.76. The company has a 50-day moving average of $8.93 and a 200 day moving average of $8.22. The firm has a market cap of $623.45 million, a PE ratio of 16.90 and a beta of 0.64. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03.

Kearny Financial (NASDAQ:KRNY) last posted its 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 4.92%. The business had revenue of $45.69 million for the quarter, compared to analysts’ expectations of $45.61 million. As a group, research analysts anticipate that Kearny Financial will post 0.8 EPS for the current fiscal year.

Kearny Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, August 12th. Kearny Financial’s dividend payout ratio (DPR) is presently 77.19%.

Analyst Ratings Changes

KRNY has been the topic of several recent research reports. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 14th. Piper Sandler boosted their price objective on Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Zacks Research upgraded Kearny Financial to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Kearny Financial presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Kearny Financial 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.