Curtland Fields Acquires 3,600 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 3,600 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was purchased at an average cost of $8.41 per share, for a total transaction of $30,276.00. Following the completion of the transaction, the director directly owned 43,200 shares of the company’s stock, valued at approximately $363,312. The trade was a 9.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kearny Financial Stock Performance

Kearny Financial stock opened at $8.47 on Friday. Kearny Financial has a 52-week low of $5.76 and a 52-week high of $8.89. The company has a market cap of $548.35 million, a P/E ratio of 14.86 and a beta of 0.66. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. The business has a 50-day simple moving average of $8.17 and a two-hundred day simple moving average of $7.85.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $44.31 million for the quarter, compared to analysts’ expectations 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 Dividend Announcement

The firm also recently announced 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. This represents a $0.44 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s dividend payout ratio is currently 77.19%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KRNY shares. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Zacks Research upgraded Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Finally, Piper Sandler initiated coverage on Kearny Financial in a research note on Monday, April 27th. They issued an “overweight” rating and a $9.50 price objective 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in Kearny Financial by 119.5% in the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after acquiring an additional 3,946 shares in the last quarter. Empowered Funds LLC lifted its holdings in Kearny Financial by 16.4% during the first quarter. Empowered Funds LLC now owns 276,505 shares of the savings and loans company’s stock valued at $2,088,000 after purchasing an additional 39,036 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Kearny Financial by 25.5% during the first quarter. Quantinno Capital Management LP now owns 238,229 shares of the savings and loans company’s stock valued at $1,799,000 after purchasing an additional 48,350 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of 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 worth $10,851,000 after purchasing an additional 81,050 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Kearny Financial by 110.8% in the first quarter. Sei Investments Co. now owns 92,759 shares of the savings and loans company’s stock worth $700,000 after purchasing an additional 48,759 shares during the period. 71.01% of the stock is 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.