Kearny Financial (NASDAQ:KRNY) Director Melvina Wong-Zaza Purchases 3,500 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Melvina Wong-Zaza acquired 3,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $29,995.00. Following the transaction, the director directly owned 33,910 shares in the company, valued at approximately $290,608.70. This represents a 11.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kearny Financial Price Performance

KRNY stock opened at $8.79 on Friday. The stock has a market capitalization of $569.06 million, a PE ratio of 15.42 and a beta of 0.66. The company’s 50-day moving average is $8.10 and its 200-day moving average is $7.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. Kearny Financial has a 1 year low of $5.76 and a 1 year high of $8.80.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The company had revenue of $44.31 million for the quarter, compared to analysts’ expectations of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. Equities research analysts expect that Kearny Financial will post 0.61 EPS for the current fiscal year.

Kearny Financial Dividend Announcement

The business also recently disclosed 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 5.0%. The ex-dividend date of this dividend was Wednesday, May 6th. 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 business. Vanguard Group Inc. lifted its position in 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 acquiring an additional 133,683 shares in the last quarter. AQR Capital Management LLC lifted its position in Kearny Financial by 36.4% in the 4th quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock valued at $14,993,000 after acquiring an additional 539,811 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Kearny Financial by 488.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock valued at $11,952,000 after acquiring an additional 1,339,062 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Kearny Financial by 6.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock valued at $10,851,000 after acquiring an additional 81,050 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Kearny Financial by 2.3% in the 2nd quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after acquiring an additional 27,460 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KRNY shares. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Piper Sandler started coverage on shares of Kearny Financial in a research report on Monday, April 27th. They set an “overweight” rating and a $9.50 price objective on the stock. Finally, Zacks Research raised shares of Kearny Financial to a “hold” rating in a research report on Monday, April 27th. One 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, the company has a consensus rating of “Hold” and an average 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.