Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce Sells 4,000 Shares

Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total value of $30,600.00. Following the completion of the transaction, the executive vice president owned 54,365 shares in the company, valued at $415,892.25. This represents a 6.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Kearny Financial Stock Down 1.6%

Shares of KRNY stock traded down $0.13 during trading on Wednesday, hitting $7.54. 70,454 shares of the company were exchanged, compared to its average volume of 433,833. The business’s 50-day simple moving average is $7.49 and its 200 day simple moving average is $6.81. Kearny Financial has a twelve month low of $5.45 and a twelve month high of $8.50. The firm has a market capitalization of $487.82 million, a price-to-earnings ratio of 14.49 and a beta of 0.70. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.04 and a current ratio of 1.05.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Kearny Financial had a return on equity of 4.27% and a net margin of 9.41%.The company had revenue of $43.54 million during the quarter, compared to analysts’ expectations of $44.84 million.

Kearny Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $0.44 dividend on an annualized basis and a yield of 5.8%. Kearny Financial’s payout ratio is 84.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Kearny Financial in a report on Friday, October 31st. Piper Sandler lifted their target price on shares of Kearny Financial from $7.50 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kearny Financial has a consensus rating of “Hold” and an average target price of $8.00.

Hedge Funds Weigh In On Kearny Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fourthstone LLC grew its holdings in Kearny Financial by 351.4% in the 2nd quarter. Fourthstone LLC now owns 1,109,666 shares of the savings and loans company’s stock valued at $7,168,000 after buying an additional 863,816 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Kearny Financial by 373.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 918,125 shares of the savings and loans company’s stock valued at $5,931,000 after acquiring an additional 724,297 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Kearny Financial in the third quarter worth $1,583,000. First Trust Advisors LP grew its stake in shares of Kearny Financial by 402.0% in the third quarter. First Trust Advisors LP now owns 214,681 shares of the savings and loans company’s stock worth $1,410,000 after acquiring an additional 171,916 shares during the last quarter. Finally, M&T Bank Corp bought a new position in Kearny Financial during the fourth quarter worth $1,145,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

About Kearny Financial

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.