Kearny Financial (NASDAQ:KRNY) Director Melvina Wong-Zaza Buys 1,560 Shares

Kearny Financial (NASDAQ:KRNY) Director Melvina Wong-Zaza bought 1,560 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were acquired at an average price of $9.63 per share, for a total transaction of $15,022.80. Following the completion of the purchase, the director owned 35,470 shares in the company, valued at approximately $341,576.10. The trade was a 4.60% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Kearny Financial Stock Down 0.9%

Shares of Kearny Financial stock traded down $0.09 on Friday, reaching $9.56. The company’s stock had a trading volume of 1,271,838 shares, compared to its average volume of 464,173. Kearny Financial has a 52 week low of $6.22 and a 52 week high of $10.23. The firm’s fifty day simple moving average is $9.68 and its two-hundred day simple moving average is $8.67. 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 company has a market capitalization of $620.72 million, a price-to-earnings ratio of 16.77 and a beta of 0.63.

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

Kearny Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Kearny Financial

A number of hedge funds have recently bought and sold shares of KRNY. Allworth Financial LP purchased a new position in Kearny Financial in the second quarter worth about $27,000. EverSource Wealth Advisors LLC increased its position in shares of Kearny Financial by 103.4% during 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 purchasing an additional 1,753 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Kearny Financial in the 2nd quarter worth approximately $54,000. Parallel Advisors LLC lifted its stake in shares of Kearny Financial by 119.5% in the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after purchasing an additional 3,946 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Kearny Financial in the 2nd quarter worth approximately $83,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Kearny Financial Company Profile

Kearny Financial Corp. is the holding company for Kearny Bank, a community-oriented savings bank serving customers in New Jersey and New York. Founded in 1884 as a mutual savings institution, Kearny Bank has historically focused on relationship-based banking for individuals, families, businesses and nonprofit organizations.

The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and retirement accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate loans, construction financing, commercial and industrial loans, and consumer credit.