Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Acquires 4,800 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 4,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average cost of $8.61 per share, for a total transaction of $41,328.00. Following the completion of the transaction, the director directly owned 29,700 shares in the company, valued at $255,717. This represents a 19.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kearny Financial Trading Up 0.2%

KRNY opened at $8.66 on Friday. The stock has a market capitalization of $560.65 million, a P/E ratio of 15.19 and a beta of 0.66. Kearny Financial has a 12 month low of $5.76 and a 12 month high of $8.75. The firm’s fifty day simple moving average is $8.08 and its 200 day simple moving average is $7.79. 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 (NASDAQ:KRNY) last issued its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The firm 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%. As a group, research analysts anticipate that Kearny Financial will post 0.61 EPS for the current fiscal 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. The ex-dividend date was Wednesday, May 6th. This represents a $0.44 dividend on an annualized basis and a yield of 5.1%. Kearny Financial’s dividend payout ratio is 77.19%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted 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 valued at $55,000 after purchasing an additional 3,946 shares in the last quarter. Empowered Funds LLC increased its holdings in Kearny Financial by 16.4% during the first 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 last quarter. Quantinno Capital Management LP increased its stake in shares of Kearny Financial by 25.5% in the first quarter. Quantinno Capital Management LP now owns 238,229 shares of the savings and loans company’s stock worth $1,799,000 after purchasing an additional 48,350 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Kearny Financial by 6.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock worth $10,851,000 after purchasing an additional 81,050 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Kearny Financial by 110.8% in the first quarter. Sei Investments Co. now owns 92,759 shares of the savings and loans company’s stock worth $700,000 after purchasing an additional 48,759 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.