First Trust Advisors LP Lowers Position in Kearny Financial (KRNY)
First Trust Advisors LP trimmed its holdings in shares of Kearny Financial (NASDAQ:KRNY) by 36.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,042 shares of the savings and loans company’s stock after selling 59,957 shares during the quarter. First Trust Advisors LP owned 0.13% of Kearny Financial worth $1,628,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc boosted its position in Kearny Financial by 46.6% during the 2nd quarter. Legal & General Group Plc now owns 30,720 shares of the savings and loans company’s stock worth $456,000 after acquiring an additional 9,765 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Kearny Financial by 73.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 156,900 shares of the savings and loans company’s stock worth $2,361,000 after acquiring an additional 66,485 shares during the last quarter. Ramsey Quantitative Systems acquired a new position in Kearny Financial during the 2nd quarter worth approximately $316,000. Renaissance Technologies LLC boosted its position in Kearny Financial by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,703,521 shares of the savings and loans company’s stock worth $54,997,000 after acquiring an additional 262,503 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Kearny Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,524 shares of the savings and loans company’s stock worth $68,422,000 after acquiring an additional 315,492 shares during the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on KRNY. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $13.00 price target on shares of Kearny Financial in a research report on Thursday, August 3rd. BidaskClub downgraded Kearny Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th.
Kearny Financial (KRNY) opened at $15.10 on Thursday. Kearny Financial has a 12-month low of $13.35 and a 12-month high of $16.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $1,199.06, a P/E ratio of 64.35 and a beta of 0.59.
Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Monday, October 30th. The savings and loans company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $29.90 million during the quarter. Kearny Financial had a return on equity of 1.79% and a net margin of 12.31%.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, December 5th. Kearny Financial’s payout ratio is presently 52.17%.
In other news, Director Theodore J. Aanensen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $14.11, for a total value of $28,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew T. Mcclane sold 13,804 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $14.42, for a total value of $199,053.68. The disclosure for this sale can be found here. Corporate insiders own 3.78% of the company’s stock.
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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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