Insider Buying: Kearny Financial (NASDAQ:KRNY) Director Buys 4,800 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 4,800 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were bought at an average cost of $8.61 per share, for a total transaction of $41,328.00. Following the purchase, the director directly owned 29,700 shares in the company, valued at approximately $255,717. This represents a 19.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Kearny Financial Stock Down 0.8%

KRNY traded down $0.07 during midday trading on Thursday, reaching $8.57. The company’s stock had a trading volume of 93,080 shares, compared to its average volume of 350,659. The stock’s 50-day moving average is $8.06 and its 200-day moving average is $7.77. The firm has a market capitalization of $554.63 million, a price-to-earnings ratio of 15.06 and a beta of 0.66. Kearny Financial has a 1 year low of $5.76 and a 1 year high of $8.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $44.31 million during the quarter, compared to the consensus estimate of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. As a group, research analysts expect that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.1%. Kearny Financial’s dividend payout ratio is 77.19%.

Analysts Set New Price Targets

KRNY has been the subject of a number of analyst reports. Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Zacks Research raised shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Finally, Piper Sandler started coverage on shares of Kearny Financial in a research note on Monday, April 27th. They set an “overweight” rating and a $9.50 target price for the company. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Hedge Funds Weigh In On Kearny Financial

Several institutional investors have recently bought and sold shares of KRNY. EverSource Wealth Advisors LLC grew its stake in Kearny Financial by 103.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after acquiring an additional 1,753 shares in the last quarter. Osaic Holdings Inc. grew its stake in Kearny Financial by 11,688.6% during the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Kearny Financial by 35.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after acquiring an additional 1,605 shares in the last quarter. Parallel Advisors LLC grew its stake in Kearny Financial by 119.5% during the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after acquiring an additional 3,946 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Kearny Financial by 59.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock valued at $64,000 after acquiring an additional 3,200 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.