Curtland Fields Acquires 3,000 Shares of Kearny Financial (NASDAQ:KRNY) Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 3,000 shares of the stock in a transaction dated Monday, June 8th. The shares were purchased at an average cost of $8.40 per share, with a total value of $25,200.00. Following the completion of the purchase, the director owned 24,900 shares of the company’s stock, valued at approximately $209,160. The trade was a 13.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kearny Financial Stock Performance

Shares of NASDAQ:KRNY opened at $8.64 on Thursday. The company has a market cap of $559.35 million, a price-to-earnings ratio of 15.16 and a beta of 0.66. The company has a 50-day moving average price of $8.06 and a 200-day moving average price of $7.77. 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 has a 12 month low of $5.76 and a 12 month high of $8.67.

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

Kearny Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s dividend payout ratio is presently 77.19%.

Institutional Trading of Kearny Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Kearny Financial by 4.2% during the third quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after purchasing an additional 133,683 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Kearny Financial by 36.4% during the fourth 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 purchasing an additional 539,811 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Kearny Financial by 488.8% during the fourth 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 purchasing an additional 1,339,062 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Kearny Financial by 6.0% during the first 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 purchasing an additional 81,050 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Kearny Financial by 2.3% during the second quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after purchasing an additional 27,460 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on KRNY shares. Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. Piper Sandler started coverage on shares of Kearny Financial in a report on Monday, April 27th. They issued an “overweight” rating and a $9.50 price objective for the company. Finally, Weiss Ratings upgraded shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.50.

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.