Ieq Capital LLC Purchases Shares of 174,033 Kearny Financial $KRNY

Ieq Capital LLC purchased a new stake in shares of Kearny Financial (NASDAQ:KRNY) in the 2nd quarter, Holdings Channel reports. The fund purchased 174,033 shares of the savings and loans company’s stock, valued at approximately $1,646,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position 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 buying an additional 1,753 shares during the period. Allworth Financial LP purchased a new position in shares of Kearny Financial during the 2nd quarter worth $27,000. Osaic Holdings Inc. grew its position in shares of 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 acquiring an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Kearny Financial by 35.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after purchasing an additional 1,605 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Kearny Financial by 119.5% in the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after purchasing an additional 3,946 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity

In related news, Director Curtland E. Fields bought 14,700 shares of the stock in a transaction dated Monday, July 27th. The shares were purchased at an average price of $9.41 per share, with a total value of $138,327.00. Following the completion of the acquisition, the director owned 57,900 shares of the company’s stock, valued at $544,839. This represents a 34.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leopold W. Montanaro bought 4,773 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $9.46 per share, with a total value of $45,152.58. Following the transaction, the director owned 270,000 shares of the company’s stock, valued at $2,554,200. The trade was a 1.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 44,273 shares of company stock worth $394,676 over the last quarter. Insiders own 7.44% of the company’s stock.

Kearny Financial Price Performance

Shares of Kearny Financial stock opened at $9.89 on Wednesday. The company has a market capitalization of $642.16 million, a price-to-earnings ratio of 17.35 and a beta of 0.64. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 1.50. The stock’s 50-day simple moving average is $9.40 and its 200-day simple moving average is $8.44. Kearny Financial has a 52 week low of $6.22 and a 52 week high of $9.97.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). Kearny Financial had a net margin of 10.45% and a return on equity of 4.90%. The business had revenue of $45.69 million for the quarter, compared to the consensus estimate of $45.61 million. As a group, analysts expect that Kearny Financial will post 0.8 earnings per share for the current fiscal 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 given a dividend of $0.11 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.44 annualized dividend and a dividend yield of 4.4%. Kearny Financial’s dividend payout ratio (DPR) is presently 77.19%.

Analyst Upgrades and Downgrades

KRNY has been the topic of several analyst reports. Weiss Ratings upgraded Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Piper Sandler upped their price target on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and one has assigned 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 $10.50.

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.