Insider Selling: Kearny Financial (NASDAQ:KRNY) EVP Sells $21,150.00 in Stock

Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce sold 2,500 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $8.46, for a total value of $21,150.00. Following the sale, the executive vice president owned 51,865 shares in the company, valued at $438,777.90. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Kearny Financial Stock Performance

NASDAQ:KRNY opened at $8.79 on Friday. The stock’s fifty day moving average is $8.10 and its 200 day moving average is $7.79. Kearny Financial has a fifty-two week low of $5.76 and a fifty-two week high of $8.80. The firm has a market capitalization of $569.06 million, a PE ratio of 15.42 and a beta of 0.66. 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 (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%.The company had revenue of $44.31 million for the quarter, compared to analyst estimates of $43.67 million. On average, sell-side analysts anticipate that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Zacks Research upgraded Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Piper Sandler started coverage on Kearny Financial in a research report on Monday, April 27th. They set an “overweight” rating and a $9.50 price target on the stock. Finally, Weiss Ratings downgraded Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KRNY. Adage Capital Partners GP L.L.C. raised its stake in shares of Kearny Financial by 488.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock worth $11,952,000 after purchasing an additional 1,339,062 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Kearny Financial by 373.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 918,125 shares of the savings and loans company’s stock valued at $5,931,000 after purchasing an additional 724,297 shares during the period. AQR Capital Management LLC grew its holdings in Kearny Financial by 36.4% in the fourth 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 purchasing an additional 539,811 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Kearny Financial in the third quarter valued at approximately $1,583,000. Finally, First Trust Advisors LP grew its holdings in Kearny Financial by 402.0% in the third quarter. First Trust Advisors LP now owns 214,681 shares of the savings and loans company’s stock valued at $1,410,000 after purchasing an additional 171,916 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.