Theodore J. Aanensen Sells 2,000 Shares of Kearny Financial (KRNY) Stock
Kearny Financial (NASDAQ:KRNY) Director Theodore J. Aanensen sold 2,000 shares of Kearny Financial 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Kearny Financial (NASDAQ KRNY) traded up 2.43% on Friday, hitting $14.75. 780,958 shares of the stock traded hands. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 67.05 and a beta of 0.60. The stock has a 50-day moving average of $14.26 and a 200-day moving average of $14.63. Kearny Financial has a 12-month low of $13.35 and a 12-month high of $16.10.
Kearny Financial (NASDAQ:KRNY) last posted its earnings results on Friday, July 28th. The savings and loans company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $29.75 million during the quarter. Kearny Financial had a net margin of 12.37% and a return on equity of 1.70%. Analysts forecast that Kearny Financial will post $0.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Monday, August 28th. Kearny Financial’s dividend payout ratio is currently 57.15%.
Kearny Financial announced that its Board of Directors has authorized a share repurchase program on Wednesday, May 24th that authorizes the company to repurchase 8,560,000 shares. This repurchase authorization authorizes the savings and loans company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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KRNY has been the subject of several research reports. BidaskClub raised shares of Kearny Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $13.00 price target on shares of Kearny Financial in a report on Thursday, August 3rd.
Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Kearny Financial in the 1st quarter worth approximately $111,000. SG Americas Securities LLC acquired a new stake in shares of Kearny Financial in the 1st quarter worth approximately $118,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Kearny Financial by 243.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,972 shares of the savings and loans company’s stock worth $148,000 after acquiring an additional 7,068 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Kearny Financial by 546.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,070 shares of the savings and loans company’s stock worth $164,000 after acquiring an additional 9,358 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Kearny Financial by 18.5% in the 1st quarter. Victory Capital Management Inc. now owns 15,309 shares of the savings and loans company’s stock worth $230,000 after acquiring an additional 2,388 shares during the period. 63.83% of the stock is owned by institutional investors.
About Kearny Financial
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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