Thomas Demedici Sells 6,304 Shares of Kearny Financial Corp. (NASDAQ:KRNY) Stock

Kearny Financial Corp. (NASDAQ:KRNY) EVP Thomas Demedici sold 6,304 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $6.00, for a total transaction of $37,824.00. Following the completion of the sale, the executive vice president now owns 70,614 shares in the company, valued at $423,684. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Kearny Financial Stock Performance

Shares of Kearny Financial stock traded down $0.10 on Monday, reaching $6.01. 237,369 shares of the company traded hands, compared to its average volume of 463,884. Kearny Financial Corp. has a 52 week low of $5.28 and a 52 week high of $9.46. The company has a 50 day moving average of $6.15 and a 200 day moving average of $6.16. The firm has a market capitalization of $387.27 million, a PE ratio of 24.12 and a beta of 0.78. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.12 and a quick ratio of 1.12.

Kearny Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend is Monday, August 12th. Kearny Financial’s dividend payout ratio is currently 176.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in Kearny Financial by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 897,523 shares of the savings and loans company’s stock worth $8,051,000 after buying an additional 34,443 shares during the period. Bank of New York Mellon Corp boosted its holdings in Kearny Financial by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 426,700 shares of the savings and loans company’s stock valued at $2,624,000 after purchasing an additional 15,423 shares during the period. American Century Companies Inc. boosted its holdings in Kearny Financial by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 391,352 shares of the savings and loans company’s stock valued at $2,407,000 after purchasing an additional 10,220 shares during the period. rhino investment partners Inc bought a new position in Kearny Financial in the 4th quarter valued at $2,553,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Kearny Financial by 124.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 177,805 shares of the savings and loans company’s stock valued at $1,094,000 after purchasing an additional 98,598 shares during the period. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Kearny Financial from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th.

Kearny Financial Company Profile

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.