Kearny Financial (NASDAQ:KRNY) Director Buys $25,200.00 in Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 3,000 shares of the stock in a transaction dated Monday, June 8th. The stock was acquired at an average cost of $8.40 per share, with a total value of $25,200.00. Following the completion of the transaction, the director owned 24,900 shares in the company, valued at approximately $209,160. This represents a 13.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Kearny Financial Stock Performance

KRNY stock opened at $8.66 on Friday. The stock has a 50-day moving average price of $8.08 and a 200-day moving average price of $7.79. 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. The firm has a market cap of $560.65 million, a PE ratio of 15.19 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data 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. The firm had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. As a group, equities research analysts expect that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Dividend Announcement

The company also recently announced 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 was Wednesday, May 6th. This represents a $0.44 annualized dividend and a dividend yield of 5.1%. Kearny Financial’s dividend payout ratio (DPR) is currently 77.19%.

Analyst Upgrades and Downgrades

KRNY has been the subject of several research reports. Zacks Research upgraded Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Piper Sandler initiated coverage on Kearny Financial in a research note on Monday, April 27th. They issued an “overweight” rating and a $9.50 target price for the company. Finally, Weiss Ratings upgraded Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Kearny Financial has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Hedge Funds Weigh In On Kearny Financial

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in Kearny Financial by 103.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after purchasing an additional 1,753 shares during the last quarter. Osaic Holdings Inc. boosted its stake in Kearny Financial by 11,688.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after purchasing an additional 4,091 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Kearny Financial by 35.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after purchasing an additional 1,605 shares during the last quarter. Parallel Advisors LLC boosted its stake in Kearny Financial by 119.5% during the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after purchasing an additional 3,946 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Kearny Financial by 59.4% during the 4th 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 purchasing an additional 3,200 shares during the last quarter. 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.