Public Employees Retirement System of Ohio Invests $484,000 in Kearny Financial $KRNY

Public Employees Retirement System of Ohio acquired a new stake in shares of Kearny Financial (NASDAQ:KRNY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,128 shares of the savings and loans company’s stock, valued at approximately $484,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Kearny Financial during the 2nd quarter valued at $84,461,000. Vanguard Group Inc. lifted its stake in shares of Kearny Financial by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock worth $22,002,000 after purchasing an additional 133,683 shares during the last quarter. AQR Capital Management LLC boosted its position in 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. boosted its position in 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. Finally, Arrowstreet Capital Limited Partnership grew its stake in 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 valued at $10,851,000 after purchasing an additional 81,050 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Kearny Financial

In other news, Director Curtland E. Fields bought 14,700 shares of Kearny Financial stock in a transaction that occurred on Monday, July 27th. The stock was bought at an average price of $9.41 per share, for a total transaction of $138,327.00. Following the purchase, the director directly owned 57,900 shares of the company’s stock, valued at approximately $544,839. The trade was a 34.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Leopold Montanaro purchased 4,773 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $9.46 per share, with a total value of $45,152.58. Following the transaction, the director owned 270,000 shares in the company, valued at $2,554,200. This trade represents a 1.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 28,023 shares of company stock valued at $255,039 over the last quarter. Insiders own 7.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on KRNY. Weiss Ratings upgraded shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 24th. Piper Sandler upped their price target on Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, Raymond James Financial assumed coverage on Kearny Financial in a report on Wednesday, August 26th. They set an “outperform” rating and a $11.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

Kearny Financial Stock Performance

KRNY opened at $9.83 on Friday. The company has a market cap of $638.26 million, a P/E ratio of 17.25 and a beta of 0.63. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.50. The firm’s 50-day moving average price is $9.64 and its 200-day moving average price is $8.60. Kearny Financial has a 52-week low of $6.22 and a 52-week high of $10.23.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $45.69 million during the quarter, compared to analyst estimates of $45.61 million. Kearny Financial had a return on equity of 4.90% and a net margin of 10.45%. As a group, equities analysts anticipate that Kearny Financial will post 0.79 EPS for the current fiscal year.

Kearny Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Wednesday, August 12th. Kearny Financial’s payout ratio is presently 77.19%.

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.