Melvina Wong-Zaza Purchases 3,500 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) Director Melvina Wong-Zaza bought 3,500 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $29,995.00. Following the completion of the transaction, the director directly owned 33,910 shares of the company’s stock, valued at $290,608.70. This trade represents a 11.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Kearny Financial Price Performance

Shares of NASDAQ KRNY opened at $8.79 on Friday. Kearny Financial has a 1-year low of $5.76 and a 1-year high of $8.80. 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 business’s fifty day moving average price is $8.10 and its two-hundred day moving average price is $7.79. The firm has a market capitalization of $569.06 million, a PE ratio of 15.42 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY) last issued its 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 return on equity of 4.61% and a net margin of 10.39%.The firm had revenue of $44.31 million for the quarter, compared to analyst estimates of $43.67 million. On average, research analysts expect that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 annualized dividend and a yield of 5.0%. Kearny Financial’s dividend payout ratio (DPR) is currently 77.19%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. boosted its position in shares of Kearny Financial by 488.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock valued at $11,952,000 after purchasing an additional 1,339,062 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Kearny Financial by 373.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 918,125 shares of the savings and loans company’s stock valued at $5,931,000 after purchasing an additional 724,297 shares during the period. AQR Capital Management LLC boosted its position in shares of Kearny Financial by 36.4% in the 4th quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock valued at $14,993,000 after purchasing an additional 539,811 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of Kearny Financial in the 3rd quarter valued at $1,583,000. Finally, First Trust Advisors LP boosted its position in shares of Kearny Financial by 402.0% in the 3rd quarter. First Trust Advisors LP now owns 214,681 shares of the savings and loans company’s stock valued at $1,410,000 after purchasing an additional 171,916 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

KRNY has been the topic of several analyst reports. Weiss Ratings lowered Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Zacks Research raised Kearny Financial to a “hold” rating in a report on Monday, April 27th. Finally, Piper Sandler started coverage on Kearny Financial in a report on Monday, April 27th. They set an “overweight” rating and a $9.50 price target on the stock. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

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.