Kearny Financial (NASDAQ:KRNY) Director Acquires 4,950 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 4,950 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were purchased at an average cost of $8.34 per share, for a total transaction of $41,283.00. Following the completion of the acquisition, the director directly owned 39,600 shares in the company, valued at approximately $330,264. This represents a 14.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Kearny Financial Price Performance

Shares of NASDAQ KRNY traded up $0.12 during midday trading on Thursday, reaching $8.51. 448,919 shares of the stock traded hands, compared to its average volume of 359,546. The company’s 50 day moving average is $8.15 and its 200 day moving average is $7.84. Kearny Financial has a one year low of $5.76 and a one year high of $8.89. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $550.61 million, a PE ratio of 14.94 and a beta of 0.66.

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, hitting the consensus estimate of $0.15. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. The company had revenue of $44.31 million for the quarter, compared to analysts’ expectations of $43.67 million. On average, equities research analysts anticipate that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s dividend payout ratio (DPR) is presently 77.19%.

Hedge Funds Weigh In On Kearny Financial

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in Kearny Financial by 103.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock worth $26,000 after buying an additional 1,753 shares during the last quarter. Osaic Holdings Inc. increased its position 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 during the last quarter. CANADA LIFE ASSURANCE Co increased its position 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 during the last quarter. Parallel Advisors LLC raised its stake in shares of Kearny Financial by 119.5% in 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 during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Kearny Financial by 59.4% in 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 during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Piper Sandler began coverage on shares of Kearny Financial in a report on Monday, April 27th. They issued an “overweight” rating and a $9.50 price target for the company. Finally, Zacks Research upgraded Kearny Financial to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Kearny Financial currently has a consensus rating of “Hold” and an average target price of $9.50.

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.