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

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 4,950 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were purchased at an average price of $8.34 per share, for a total transaction of $41,283.00. Following the purchase, the director owned 39,600 shares in the company, valued at $330,264. This trade represents a 14.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Kearny Financial Price Performance

NASDAQ:KRNY traded up $0.12 during trading hours on Thursday, hitting $8.51. 448,919 shares of the stock traded hands, compared to its average volume of 359,546. 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 1 year low of $5.76 and a 1 year high of $8.89. The company has a market cap of $550.61 million, a price-to-earnings ratio of 14.94 and a beta of 0.66. The stock has a 50 day moving average price of $8.15 and a 200 day moving average price of $7.84.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. Sell-side analysts forecast that Kearny Financial will post 0.61 EPS for the current fiscal year.

Kearny Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued 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 5.2%. Kearny Financial’s dividend payout ratio is currently 77.19%.

Wall Street Analyst Weigh In

KRNY has been the topic of a number of recent analyst reports. Zacks Research raised Kearny Financial to a “hold” rating in a report on Monday, April 27th. Piper Sandler began coverage on shares of Kearny Financial in a report on Monday, April 27th. They set an “overweight” rating and a $9.50 price objective for the company. Finally, Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Kearny Financial currently has an average rating of “Hold” and an average target price of $9.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings 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 worth $55,000 after purchasing an additional 3,946 shares during the last quarter. Empowered Funds LLC boosted its stake in Kearny Financial by 16.4% during the first quarter. Empowered Funds LLC now owns 276,505 shares of the savings and loans company’s stock valued at $2,088,000 after buying an additional 39,036 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Kearny Financial by 25.5% during the first quarter. Quantinno Capital Management LP now owns 238,229 shares of the savings and loans company’s stock valued at $1,799,000 after buying an additional 48,350 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Kearny Financial by 6.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock valued at $10,851,000 after buying an additional 81,050 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Kearny Financial by 110.8% during the 1st quarter. Sei Investments Co. now owns 92,759 shares of the savings and loans company’s stock valued at $700,000 after buying an additional 48,759 shares in the last quarter. Institutional investors 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.