Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Buys 3,600 Shares

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 3,600 shares of the stock in a transaction dated Thursday, June 18th. The shares were bought at an average cost of $8.41 per share, with a total value of $30,276.00. Following the completion of the purchase, the director directly owned 43,200 shares of the company’s stock, valued at approximately $363,312. This trade represents a 9.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Kearny Financial Trading Up 1.0%

KRNY stock opened at $8.47 on Friday. The company has a market capitalization of $548.35 million, a PE ratio of 14.86 and a beta of 0.66. Kearny Financial has a 12 month low of $5.76 and a 12 month high of $8.89. The firm’s 50-day moving average is $8.16 and its 200 day moving average is $7.85. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The company 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%. On average, research analysts anticipate that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s payout ratio is currently 77.19%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KRNY. Piper Sandler initiated coverage on Kearny Financial in a research note on Monday, April 27th. They issued an “overweight” rating and a $9.50 price objective on the stock. Weiss Ratings downgraded Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Finally, Zacks Research raised Kearny Financial to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Kearny Financial has an average rating of “Hold” and a consensus target price of $9.50.

Institutional Investors Weigh In On Kearny Financial

Several hedge funds have recently modified their holdings of KRNY. EverSource Wealth Advisors LLC raised its stake in Kearny Financial by 103.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock worth $26,000 after buying an additional 1,753 shares in the last quarter. Osaic Holdings Inc. boosted its position 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 acquiring an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position 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 acquiring an additional 1,605 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of 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 valued at $55,000 after acquiring an additional 3,946 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of Kearny Financial by 59.4% in 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 acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors 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.