Kearny Financial (NASDAQ:KRNY) Director Buys $138,327.00 in Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 14,700 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was purchased at an average cost of $9.41 per share, with a total value of $138,327.00. Following the completion of the acquisition, the director directly owned 57,900 shares of the company’s stock, valued at approximately $544,839. This trade represents a 34.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kearny Financial Stock Performance

Shares of KRNY opened at $9.63 on Friday. The company’s 50 day simple moving average is $8.93 and its 200-day simple moving average is $8.22. The firm has a market cap of $623.45 million, a PE ratio of 16.90 and a beta of 0.64. Kearny Financial has a 12-month low of $5.76 and a 12-month high of $9.76. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

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

Kearny Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Wednesday, August 12th. Kearny Financial’s dividend payout ratio is presently 77.19%.

Hedge Funds Weigh In On Kearny Financial

Several institutional investors have recently bought and sold shares of KRNY. M&T Bank Corp acquired a new stake in shares of Kearny Financial in the 4th quarter worth $1,145,000. Bailard Inc. purchased a new position in Kearny Financial during the fourth quarter worth about $711,000. EverSource Wealth Advisors LLC raised 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 purchasing an additional 1,753 shares in the last quarter. ProShare Advisors LLC acquired a new stake in Kearny Financial in the fourth quarter valued at about $78,000. Finally, Ballentine Partners LLC acquired a new stake in Kearny Financial in the fourth quarter valued at about $87,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KRNY. Weiss Ratings lowered Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 14th. Piper Sandler upped their price objective on Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Finally, Zacks Research raised Kearny Financial to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.