Segall Bryant & Hamill LLC Makes New Investment in Kearny Financial $KRNY

Segall Bryant & Hamill LLC purchased a new position in shares of Kearny Financial (NASDAQ:KRNY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 240,997 shares of the savings and loans company’s stock, valued at approximately $1,583,000. Segall Bryant & Hamill LLC owned approximately 0.37% of Kearny Financial at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Kearny Financial by 4.2% during the third quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after purchasing an additional 133,683 shares in the last quarter. Geode Capital Management LLC raised its holdings in Kearny Financial by 1.1% in the second quarter. Geode Capital Management LLC now owns 1,409,239 shares of the savings and loans company’s stock worth $9,105,000 after purchasing an additional 15,162 shares in the last quarter. Invesco Ltd. raised its holdings in Kearny Financial by 2.3% in the second quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock worth $7,796,000 after purchasing an additional 27,460 shares in the last quarter. Fourthstone LLC lifted its position in shares of Kearny Financial by 351.4% during the second 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. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Kearny Financial by 373.7% during 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 buying an additional 724,297 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Kearny Financial Stock Down 2.2%

Shares of KRNY stock opened at $7.44 on Friday. The stock’s 50-day simple moving average is $7.83 and its 200-day simple moving average is $7.14. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $481.67 million, a PE ratio of 14.31 and a beta of 0.69. Kearny Financial has a fifty-two week low of $5.45 and a fifty-two week high of $8.50.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a return on equity of 4.26% and a net margin of 9.41%.The firm had revenue of $43.54 million during the quarter, compared to analysts’ expectations of $44.84 million.

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.44 dividend on an annualized basis and a yield of 5.9%. Kearny Financial’s dividend payout ratio (DPR) is currently 84.62%.

Insider Transactions at Kearny Financial

In other Kearny Financial news, EVP Patrick M. Joyce sold 4,000 shares of Kearny Financial stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total transaction of $30,600.00. Following the completion of the sale, the executive vice president directly owned 54,365 shares in the company, valued at approximately $415,892.25. The trade was a 6.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on KRNY shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Kearny Financial in a report on Wednesday, January 28th. Piper Sandler upped their target price on Kearny Financial from $7.50 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Kearny Financial presently has an average rating of “Hold” and an average price target of $8.00.

Kearny Financial Profile

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.