Curtland Fields Buys 14,700 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 14,700 shares of the stock in a transaction on Monday, July 27th. The shares were acquired at an average price of $9.41 per share, with a total value of $138,327.00. Following the purchase, the director owned 57,900 shares in the company, valued at $544,839. This represents a 34.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kearny Financial Stock Performance

Shares of KRNY opened at $9.59 on Thursday. The firm has a market cap of $620.86 million, a price-to-earnings ratio of 16.82 and a beta of 0.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average is $8.91 and its two-hundred day moving average is $8.20. Kearny Financial has a 52-week low of $5.76 and a 52-week high of $9.76.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $45.69 million for the quarter, compared to analyst estimates of $45.61 million. Kearny Financial had a return on equity of 4.92% and a net margin of 10.45%. Analysts forecast that Kearny Financial will post 0.8 EPS for the current fiscal year.

Kearny Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Wednesday, August 12th. Kearny Financial’s dividend payout ratio is 77.19%.

Hedge Funds Weigh In On Kearny Financial

Several large investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its holdings in Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after purchasing an additional 1,605 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Kearny Financial by 15.6% during the fourth quarter. Russell Investments Group Ltd. now owns 11,930 shares of the savings and loans company’s stock worth $88,000 after purchasing an additional 1,610 shares during the period. First Trust Advisors LP lifted its position in shares of Kearny Financial by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company’s stock worth $276,000 after buying an additional 1,668 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Kearny Financial by 103.4% in the 4th 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 during the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Kearny Financial by 4.1% in the 2nd quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company’s stock worth $305,000 after buying an additional 1,865 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KRNY shares. Piper Sandler boosted their target price on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Zacks Research raised shares of Kearny Financial to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings downgraded Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.50.

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.