Thompson Siegel & Walmsley LLC increased its position in shares of Kearny Financial (NASDAQ:KRNY) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,900 shares of the savings and loans company’s stock after purchasing an additional 3,500 shares during the period. Thompson Siegel & Walmsley LLC owned 0.07% of Kearny Financial worth $830,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in Kearny Financial during the first quarter worth about $111,000. SG Americas Securities LLC acquired a new stake in Kearny Financial during the first quarter worth about $118,000. Oppenheimer Asset Management Inc. increased its position in Kearny Financial by 243.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,972 shares of the savings and loans company’s stock worth $148,000 after purchasing an additional 7,068 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Kearny Financial by 546.6% during the second quarter. BNP Paribas Arbitrage SA now owns 11,070 shares of the savings and loans company’s stock worth $164,000 after purchasing an additional 9,358 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its position in Kearny Financial by 9.1% during the first quarter. Greenwood Capital Associates LLC now owns 15,262 shares of the savings and loans company’s stock worth $230,000 after purchasing an additional 1,276 shares during the last quarter. Hedge funds and other institutional investors own 63.83% of the company’s stock.
Several research firms recently issued reports on KRNY. BidaskClub cut shares of Kearny Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $13.00 price target on shares of Kearny Financial in a research report on Thursday, August 3rd.
Shares of Kearny Financial (NASDAQ:KRNY) opened at 14.45 on Friday. Kearny Financial has a 12 month low of $13.35 and a 12 month high of $16.10. The firm has a market capitalization of $1.17 billion, a PE ratio of 65.68 and a beta of 0.60. The firm’s 50 day moving average is $14.26 and its 200-day moving average is $14.63.
Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Friday, July 28th. The savings and loans company reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. Kearny Financial had a net margin of 12.37% and a return on equity of 1.70%. The company had revenue of $29.75 million during the quarter. On average, analysts expect that Kearny Financial will post $0.24 EPS for the current fiscal year.
Kearny Financial declared that its board has approved a share buyback plan on Wednesday, May 24th that authorizes the company to buyback 8,560,000 shares. This buyback authorization authorizes the savings and loans company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 30th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Monday, August 28th. Kearny Financial’s dividend payout ratio is currently 57.15%.
In other news, Director Theodore J. Aanensen sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $14.11, for a total transaction of $28,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.68% of the company’s stock.
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Kearny Financial Company Profile
Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.
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