Curtland Fields Purchases 4,800 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 4,800 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average cost of $8.61 per share, for a total transaction of $41,328.00. Following the completion of the transaction, the director directly owned 29,700 shares in the company, valued at $255,717. This represents a 19.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Kearny Financial Stock Performance

KRNY stock opened at $8.79 on Friday. The stock has a market capitalization of $569.06 million, a PE ratio of 15.42 and a beta of 0.66. Kearny Financial has a 12-month low of $5.76 and a 12-month high of $8.80. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The stock’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $7.79.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings data 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 business 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%. As a group, research analysts forecast that Kearny Financial will post 0.61 earnings per share for the current fiscal year.

Kearny Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 annualized dividend and a yield of 5.0%. Kearny Financial’s dividend payout ratio is 77.19%.

Wall Street Analysts Forecast Growth

Several research firms 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 objective on the stock. Weiss Ratings cut Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Zacks Research raised Kearny Financial to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Kearny Financial presently has a consensus rating of “Hold” and an average target price of $9.50.

Institutional Investors Weigh In On Kearny Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Kearny Financial by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after buying an additional 133,683 shares during the last quarter. AQR Capital Management LLC raised its stake in Kearny Financial by 36.4% during the 4th quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock valued at $14,993,000 after buying an additional 539,811 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Kearny Financial by 488.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock valued at $11,952,000 after buying an additional 1,339,062 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Kearny Financial by 6.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock valued at $10,851,000 after buying an additional 81,050 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Kearny Financial by 2.3% during the 2nd quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after buying an additional 27,460 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.