Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Acquires 3,000 Shares

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields purchased 3,000 shares of Kearny Financial stock in a transaction on Monday, June 8th. The stock was purchased at an average price of $8.40 per share, for a total transaction of $25,200.00. Following the completion of the transaction, the director owned 24,900 shares of the company’s stock, valued at approximately $209,160. This represents a 13.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kearny Financial Price Performance

NASDAQ:KRNY traded up $0.15 on Tuesday, reaching $8.52. The stock had a trading volume of 175,480 shares, compared to its average volume of 348,859. The company has a market capitalization of $551.84 million, a P/E ratio of 14.94 and a beta of 0.66. Kearny Financial has a 1-year low of $5.76 and a 1-year high of $8.53. 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 stock has a fifty day moving average price of $8.01 and a 200-day moving average price of $7.74.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. The firm had revenue of $44.31 million for the quarter, compared to analyst estimates of $43.67 million. Research analysts forecast that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Dividend Announcement

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

Hedge Funds Weigh In On Kearny Financial

Several large investors have recently bought and sold shares of KRNY. Goldman Sachs Group Inc. lifted its holdings in 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 during the period. Caxton Associates LLP bought a new stake in Kearny Financial in the first quarter valued at approximately $146,000. Empowered Funds LLC increased its stake in Kearny Financial by 8.7% in the first quarter. Empowered Funds LLC now owns 181,165 shares of the savings and loans company’s stock valued at $1,134,000 after purchasing an additional 14,427 shares in the last quarter. Jane Street Group LLC increased its stake in Kearny Financial by 95.0% in the first quarter. Jane Street Group LLC now owns 152,595 shares of the savings and loans company’s stock valued at $955,000 after purchasing an additional 74,349 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Kearny Financial by 5.1% in the second quarter. Rhumbline Advisers now owns 89,669 shares of the savings and loans company’s stock valued at $579,000 after purchasing an additional 4,340 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KRNY has been the topic of a number of research reports. Piper Sandler initiated coverage on shares of Kearny Financial in a research report on Monday, April 27th. They set an “overweight” rating and a $9.50 target price on the stock. Weiss Ratings upgraded shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

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.