Curtland Fields Buys 4,950 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 4,950 shares of the stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of $8.71 per share, for a total transaction of $43,114.50. Following the acquisition, the director owned 34,650 shares in the company, valued at $301,801.50. The trade was a 16.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Kearny Financial Trading Up 0.3%

Shares of KRNY stock opened at $8.61 on Wednesday. Kearny Financial has a 12 month low of $5.76 and a 12 month high of $8.89. 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 business’s 50 day moving average is $8.14 and its two-hundred day moving average is $7.82. The company has a market cap of $557.41 million, a PE ratio of 15.11 and a beta of 0.66.

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

Kearny Financial Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 valued at $55,000 after purchasing an additional 3,946 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Kearny Financial by 16.4% during the 1st quarter. Empowered Funds LLC now owns 276,505 shares of the savings and loans company’s stock worth $2,088,000 after buying an additional 39,036 shares during the period. Quantinno Capital Management LP lifted its position in shares of Kearny Financial by 25.5% during the 1st quarter. Quantinno Capital Management LP now owns 238,229 shares of the savings and loans company’s stock worth $1,799,000 after buying an additional 48,350 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake 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 buying an additional 81,050 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Kearny Financial by 110.8% in the 1st quarter. Sei Investments Co. now owns 92,759 shares of the savings and loans company’s stock valued at $700,000 after buying an additional 48,759 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler assumed coverage on Kearny Financial in a research note on Monday, April 27th. They set an “overweight” rating and a $9.50 target price for the company. Weiss Ratings lowered Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Finally, Zacks Research raised 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.