Insider Buying: Kearny Financial (NASDAQ:KRNY) Director Acquires $45,152.58 in Stock

Kearny Financial (NASDAQ:KRNY) Director Leopold Montanaro acquired 4,773 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $9.46 per share, with a total value of $45,152.58. Following the transaction, the director directly owned 270,000 shares in the company, valued at $2,554,200. The trade was a 1.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Kearny Financial Price Performance

Shares of NASDAQ:KRNY opened at $9.60 on Friday. The company has a market cap of $621.50 million, a price-to-earnings ratio of 16.84 and a beta of 0.64. The business has a 50 day moving average price of $9.21 and a 200 day moving average price of $8.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. Kearny Financial has a twelve month low of $5.97 and a twelve month high of $9.81.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). Kearny Financial had a return on equity of 4.92% and a net margin of 10.45%.The business had revenue of $45.69 million during the quarter, compared to the consensus estimate of $45.61 million. Research analysts predict that Kearny Financial will post 0.8 earnings per share for the current year.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.44 annualized dividend and a dividend yield of 4.6%. Kearny Financial’s dividend payout ratio (DPR) is presently 77.19%.

Analysts Set New Price Targets

KRNY has been the subject of several research analyst reports. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a research report on Monday, April 27th. Finally, Piper Sandler boosted their price objective on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Kearny Financial presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Institutional Trading of Kearny Financial

Several institutional investors have recently modified their holdings of KRNY. BlackRock Inc. bought a new stake in shares of Kearny Financial during the second quarter valued at approximately $84,461,000. Adage Capital Partners GP L.L.C. lifted its position in Kearny Financial by 488.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock worth $11,952,000 after purchasing an additional 1,339,062 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in 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 worth $5,931,000 after purchasing an additional 724,297 shares during the period. AQR Capital Management LLC boosted its stake in Kearny Financial by 36.4% during the fourth quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock worth $14,993,000 after buying an additional 539,811 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Kearny Financial during the second quarter worth $3,685,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Kearny Financial Company 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.