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

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 4,950 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was purchased at an average cost of $8.34 per share, with a total value of $41,283.00. Following the completion of the transaction, the director owned 39,600 shares in the company, valued at $330,264. This represents a 14.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kearny Financial Stock Up 1.0%

Shares of NASDAQ:KRNY opened at $8.47 on Friday. The firm has a market capitalization of $548.35 million, a PE ratio of 14.86 and a beta of 0.66. Kearny Financial has a 1 year low of $5.76 and a 1 year high of $8.89. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50-day moving average is $8.16 and its two-hundred day moving average is $7.85.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. Analysts predict 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. Shareholders of record on Wednesday, May 6th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, May 6th. This represents a $0.44 annualized dividend and a yield of 5.2%. Kearny Financial’s dividend payout ratio is 77.19%.

Institutional Trading of Kearny Financial

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of 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 worth $22,002,000 after acquiring an additional 133,683 shares in the last quarter. AQR Capital Management LLC raised its position in shares of 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 worth $14,993,000 after acquiring an additional 539,811 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Kearny Financial by 488.8% during 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 boosted its holdings in Kearny Financial by 6.0% in the first 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 purchasing an additional 81,050 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Kearny Financial by 2.3% in the second quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after purchasing an additional 27,460 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KRNY has been the subject of several recent research reports. Zacks Research upgraded Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Finally, Piper Sandler started coverage on shares of Kearny Financial in a research note on Monday, April 27th. They issued an “overweight” rating and a $9.50 price target for the company. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kearny Financial presently 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.