Kearny Financial (NASDAQ:KRNY) Director Leopold Montanaro Acquires 4,773 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Leopold Montanaro bought 4,773 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $9.46 per share, for a total transaction of $45,152.58. Following the completion of the purchase, the director directly owned 270,000 shares in the company, valued at approximately $2,554,200. This represents a 1.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kearny Financial Trading Up 0.7%

Shares of Kearny Financial stock opened at $9.53 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $9.16 and its 200-day simple moving average is $8.32. The stock has a market cap of $616.97 million, a P/E ratio of 16.72 and a beta of 0.64. Kearny Financial has a 1-year low of $5.87 and a 1-year high of $9.81.

Kearny Financial (NASDAQ:KRNY) last posted 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). Kearny Financial had a net margin of 10.45% and a return on equity of 4.92%. The company had revenue of $45.69 million during the quarter, compared to analyst estimates of $45.61 million. Analysts predict that Kearny Financial will post 0.8 EPS for the current fiscal year.

Kearny Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, August 12th. Kearny Financial’s payout ratio is currently 77.19%.

Institutional Trading of Kearny Financial

A number of institutional investors and hedge funds have recently bought and sold shares of KRNY. Allworth Financial LP purchased a new position in shares of Kearny Financial in the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its position in Kearny Financial by 103.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after buying an additional 1,753 shares during the period. Osaic Holdings Inc. boosted 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 valued at $27,000 after buying an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after acquiring an additional 1,605 shares in the last quarter. Finally, Parallel Advisors LLC increased its position 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 worth $55,000 after acquiring an additional 3,946 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.