Ieq Capital LLC Purchases New Shares in Kearny Financial $KRNY

Ieq Capital LLC purchased a new position in Kearny Financial (NASDAQ:KRNY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 174,033 shares of the savings and loans company’s stock, valued at approximately $1,646,000. Ieq Capital LLC owned 0.27% of Kearny Financial as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KRNY. M&T Bank Corp purchased a new stake in shares of Kearny Financial in the 4th quarter worth about $1,145,000. 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 worth $10,851,000 after acquiring an additional 81,050 shares in the last quarter. Bailard Inc. bought a new stake in Kearny Financial during the fourth quarter worth about $711,000. Sei Investments Co. grew its holdings in Kearny Financial by 110.8% in the first quarter. Sei Investments Co. now owns 92,759 shares of the savings and loans company’s stock worth $700,000 after purchasing an additional 48,759 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Kearny Financial by 25.5% in the first quarter. Quantinno Capital Management LP now owns 238,229 shares of the savings and loans company’s stock worth $1,799,000 after purchasing an additional 48,350 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

KRNY has been the topic of a number of analyst reports. Weiss Ratings raised Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Piper Sandler raised their price objective on Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Kearny Financial Stock Up 0.7%

NASDAQ:KRNY opened at $9.89 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.03 and a current ratio of 1.05. The firm has a market cap of $642.16 million, a P/E ratio of 17.35 and a beta of 0.64. Kearny Financial has a fifty-two week low of $6.22 and a fifty-two week high of $9.97. The firm has a 50-day simple moving average of $9.40 and a two-hundred day simple moving average of $8.44.

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). The firm had revenue of $45.69 million during the quarter, compared to the consensus estimate of $45.61 million. Kearny Financial had a return on equity of 4.90% and a net margin of 10.45%. Analysts predict that Kearny Financial will post 0.8 earnings per share for the current fiscal year.

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.11 dividend. 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 payout ratio is currently 77.19%.

Insider Activity

In other Kearny Financial news, Director Leopold W. Montanaro acquired 4,773 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $9.46 per share, with a total value of $45,152.58. Following the completion of the transaction, the director directly owned 270,000 shares of the company’s stock, valued at approximately $2,554,200. This represents a 1.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Curtland E. Fields bought 14,700 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was acquired at an average cost of $9.41 per share, with a total value of $138,327.00. Following the transaction, the director owned 57,900 shares in the company, valued at $544,839. The trade was a 34.03% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 44,273 shares of company stock valued at $394,676 over the last ninety days. 7.44% of the stock is currently owned by corporate insiders.

Kearny Financial 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.