Insider Selling: Kearny Financial (NASDAQ:KRNY) EVP Sells 4,000 Shares of Stock

Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $7.65, for a total value of $30,600.00. Following the sale, the executive vice president directly owned 54,365 shares in the company, valued at approximately $415,892.25. The trade was a 6.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kearny Financial Price Performance

NASDAQ KRNY traded down $0.13 on Wednesday, reaching $7.54. 70,454 shares of the stock traded hands, compared to its average volume of 433,833. Kearny Financial has a 12 month low of $5.45 and a 12 month high of $8.50. The company has a market cap of $487.82 million, a price-to-earnings ratio of 14.49 and a beta of 0.70. The firm’s fifty day simple moving average is $7.49 and its 200 day simple moving average is $6.81. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.60.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Thursday, January 22nd. The savings and loans company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Kearny Financial had a return on equity of 4.27% and a net margin of 9.41%.The firm had revenue of $43.54 million during the quarter, compared to the consensus estimate of $44.84 million.

Kearny Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, February 4th. This represents a $0.44 annualized dividend and a dividend yield of 5.8%. Kearny Financial’s dividend payout ratio (DPR) is 84.62%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on KRNY shares. Piper Sandler boosted their target price on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kearny Financial in a report on Friday, October 31st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.00.

Institutional Investors Weigh In On Kearny Financial

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. grew 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 worth $27,000 after purchasing an additional 4,091 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Kearny Financial in the fourth quarter worth $74,000. Focus Partners Wealth purchased a new position in shares of Kearny Financial during the third quarter valued at $76,000. Nisa Investment Advisors LLC grew its holdings in shares of Kearny Financial by 18,309.5% during the second quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company’s stock valued at $75,000 after buying an additional 11,535 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Kearny Financial during the third quarter valued at $78,000. Hedge funds and other 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.