Short Interest in Kearny Financial (NASDAQ:KRNY) Increases By 78.2%

Kearny Financial (NASDAQ:KRNY) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 1,920,176 shares, an increase of 78.2% from the June 15th total of 1,077,701 shares. Based on an average trading volume of 939,622 shares, the days-to-cover ratio is presently 2.0 days. Currently, 3.2% of the company’s stock are sold short.

Insider Transactions at Kearny Financial

In other Kearny Financial news, Director Curtland E. Fields purchased 3,600 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average price of $8.41 per share, for a total transaction of $30,276.00. Following the completion of the purchase, the director owned 43,200 shares in the company, valued at $363,312. The trade was a 9.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Melvina Wong-Zaza purchased 3,500 shares of Kearny Financial stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $8.57 per share, with a total value of $29,995.00. Following the acquisition, the director directly owned 33,910 shares of the company’s stock, valued at $290,608.70. The trade was a 11.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 24,800 shares of company stock worth $211,196. Corporate insiders own 7.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KRNY. EverSource Wealth Advisors LLC increased its position in Kearny Financial by 103.4% in 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 period. Osaic Holdings Inc. grew its position in Kearny Financial by 11,688.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 4,091 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Kearny Financial by 35.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after acquiring an additional 1,605 shares during the period. Parallel Advisors LLC increased its holdings in shares of 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 during the period. Finally, New York State Common Retirement Fund raised its position in shares of Kearny Financial by 59.4% during the 4th 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 in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler increased their target price on Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.50.

Kearny Financial Price Performance

Shares of NASDAQ KRNY opened at $9.69 on Friday. Kearny Financial has a twelve month low of $5.76 and a twelve 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. The company has a market capitalization of $627.33 million, a price-to-earnings ratio of 17.00 and a beta of 0.64. The business has a 50 day simple moving average of $8.64 and a 200-day simple moving average of $8.08.

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

Kearny Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 dividend on an annualized basis and a yield of 4.5%. Kearny Financial’s dividend payout ratio (DPR) is currently 77.19%.

Kearny Financial Company Profile

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.