Patrick Joyce Sells 2,500 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $8.46, for a total value of $21,150.00. Following the completion of the sale, the executive vice president owned 51,865 shares of the company’s stock, valued at approximately $438,777.90. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Kearny Financial Stock Performance

Shares of NASDAQ:KRNY opened at $8.66 on Friday. Kearny Financial has a twelve month low of $5.76 and a twelve month high of $8.75. The firm has a market cap of $560.65 million, a PE ratio of 15.19 and a beta of 0.66. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03. The business has a fifty day moving average of $8.08 and a 200-day moving average of $7.79.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%.The company had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million. On average, equities research analysts predict that Kearny Financial will post 0.61 EPS for the current fiscal year.

Kearny Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.11 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.1%. Kearny Financial’s dividend payout ratio (DPR) is 77.19%.

Hedge Funds Weigh In On Kearny Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in Kearny Financial by 103.4% during the fourth 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. Osaic Holdings Inc. boosted its holdings in Kearny Financial by 11,688.6% during the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after buying an additional 4,091 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Kearny Financial by 35.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after buying an additional 1,605 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Kearny Financial by 119.5% during the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after buying an additional 3,946 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Kearny Financial by 59.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock worth $64,000 after buying an additional 3,200 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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