Renaissance Technologies LLC Trims Stake in Kearny Financial $KRNY

Renaissance Technologies LLC reduced its stake in Kearny Financial (NASDAQ:KRNY) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,632,416 shares of the savings and loans company’s stock after selling 88,300 shares during the quarter. Renaissance Technologies LLC owned approximately 4.07% of Kearny Financial worth $19,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Kearny Financial by 4.2% in the third quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock worth $22,002,000 after buying an additional 133,683 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Kearny Financial by 36.4% during the 4th 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 buying an additional 539,811 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Kearny Financial by 488.8% during the 4th 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 buying an additional 1,339,062 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Kearny Financial by 6.0% during 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 acquiring an additional 81,050 shares during the period. Finally, Invesco Ltd. increased its holdings in Kearny Financial by 2.3% in the 2nd quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock worth $7,796,000 after acquiring 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 Analysts Forecast Growth

KRNY has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 14th. Piper Sandler increased their price objective on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a research report 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.50.

Kearny Financial Stock Performance

NASDAQ:KRNY opened at $9.63 on Friday. 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 $9.76. The stock has a 50-day moving average price of $8.93 and a 200 day moving average price of $8.22. The stock has a market capitalization of $623.45 million, a P/E ratio of 16.90 and a beta of 0.64.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share (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 business had revenue of $45.69 million for the quarter, compared to the consensus estimate of $45.61 million. Equities research analysts forecast that Kearny Financial will post 0.8 EPS for the current fiscal year.

Kearny Financial Announces Dividend

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

Insider Activity at Kearny Financial

In related news, Director Melvina Wong-Zaza bought 3,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $8.57 per share, with a total value of $29,995.00. Following the completion of the acquisition, the director owned 33,910 shares of the company’s stock, valued at $290,608.70. This represents a 11.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Curtland E. Fields bought 14,700 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were bought at an average price of $9.41 per share, with a total value of $138,327.00. Following the transaction, the director owned 57,900 shares of the company’s stock, valued at $544,839. The trade was a 34.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 39,500 shares of company stock worth $349,524. Company insiders own 7.44% of the company’s stock.

Kearny Financial 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.