Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Buys 4,950 Shares

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 4,950 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $8.71 per share, for a total transaction of $43,114.50. Following the purchase, the director owned 34,650 shares of the company’s stock, valued at $301,801.50. This trade represents a 16.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kearny Financial Stock Performance

Shares of Kearny Financial stock traded down $0.15 on Monday, reaching $8.65. 134,264 shares of the company were exchanged, compared to its average volume of 351,983. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50-day moving average is $8.10 and its two-hundred day moving average is $7.80. The firm has a market cap of $559.68 million, a price-to-earnings ratio of 15.17 and a beta of 0.66. Kearny Financial has a 1-year low of $5.76 and a 1-year high of $8.89.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates 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 expect that Kearny Financial will post 0.61 earnings per share for the current fiscal year.

Kearny Financial Dividend Announcement

The firm also recently announced 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 5.1%. The ex-dividend date was Wednesday, May 6th. Kearny Financial’s dividend payout ratio (DPR) is currently 77.19%.

Hedge Funds Weigh In On Kearny Financial

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Kearny Financial by 103.4% during 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 during the period. Osaic Holdings Inc. increased its position in shares of Kearny Financial by 11,688.6% during 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 during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Kearny Financial by 35.6% during 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 during the period. Parallel Advisors LLC increased its position in shares of Kearny Financial by 119.5% during 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 during the period. Finally, New York State Common Retirement Fund increased its position in shares of Kearny Financial by 59.4% during 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 during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on KRNY shares. Weiss Ratings cut Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Zacks Research upgraded Kearny Financial to a “hold” rating in a research report on Monday, April 27th. Finally, Piper Sandler initiated coverage on Kearny Financial in a research report on Monday, April 27th. They issued an “overweight” rating and a $9.50 target price on the stock. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.