Bailard Inc. Makes New Investment in Kearny Financial $KRNY

Bailard Inc. purchased a new position in shares of Kearny Financial (NASDAQ:KRNY) in the fourth quarter, HoldingsChannel reports. The fund purchased 95,925 shares of the savings and loans company’s stock, valued at approximately $711,000.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Kearny Financial by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after buying an additional 133,683 shares during the last quarter. Invesco Ltd. grew its stake in shares of Kearny Financial by 2.3% in the second quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after buying an additional 27,460 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Kearny Financial by 21.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,112,013 shares of the savings and loans company’s stock valued at $7,306,000 after buying an additional 193,888 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Kearny Financial by 8.1% in the first quarter. Goldman Sachs Group Inc. now owns 729,773 shares of the savings and loans company’s stock valued at $4,568,000 after buying an additional 54,606 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Kearny Financial by 8.9% in the third quarter. Two Sigma Investments LP now owns 545,365 shares of the savings and loans company’s stock valued at $3,583,000 after buying an additional 44,500 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Transactions at Kearny Financial

In other Kearny Financial news, EVP Timothy A. Swansson sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.60, for a total transaction of $30,400.00. Following the completion of the sale, the executive vice president owned 55,833 shares of the company’s stock, valued at $424,330.80. This trade represents a 6.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.44% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Piper Sandler assumed coverage on shares of Kearny Financial in a research note on Monday, April 27th. They issued an “overweight” rating and a $9.50 target price for the company. Finally, Weiss Ratings downgraded shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.50.

Kearny Financial Trading Up 1.3%

Shares of NASDAQ:KRNY opened at $7.99 on Friday. Kearny Financial has a 52-week low of $5.76 and a 52-week high of $8.50. The company has a market capitalization of $517.27 million, a P/E ratio of 14.02 and a beta of 0.65. The company has a 50-day simple moving average of $7.73 and a 200 day simple moving average of $7.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03.

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

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.44 annualized dividend and a yield of 5.5%. Kearny Financial’s dividend payout ratio (DPR) is currently 77.19%.

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.