Key Points
- EVP Patrick Joyce sold 4,000 shares on Jan. 28 at an average price of $7.65 for $30,600, leaving him with 54,365 shares—a 6.85% reduction in his ownership stake.
- Kearny Financial missed quarterly expectations, reporting EPS of $0.15 versus a $0.16 consensus and revenue of $43.54 million versus $44.84 million, with a return on equity of 4.27% and a net margin of 9.41%.
- The company announced a quarterly dividend of $0.11 (annualized $0.44), implying a 5.8% yield and a high payout ratio of 84.62%; the ex-dividend date is Feb. 4 and the payment date Feb. 18.
Kearny Financial (NASDAQ:KRNY - Get Free Report) EVP Patrick Joyce sold 4,000 shares of Kearny Financial stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total value of $30,600.00. Following the completion of the transaction, the executive vice president directly owned 54,365 shares in the company, valued at $415,892.25. This represents a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Kearny Financial Stock Down 0.8%
KRNY opened at $7.60 on Thursday. Kearny Financial has a 1 year low of $5.45 and a 1 year high of $8.50. The firm has a 50 day moving average price of $7.51 and a 200 day moving average price of $6.81. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.04 and a current ratio of 1.05. The company has a market cap of $492.02 million, a PE ratio of 14.62 and a beta of 0.70.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its quarterly earnings data on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a return on equity of 4.27% and a net margin of 9.41%.The business had revenue of $43.54 million during the quarter, compared to analyst estimates of $44.84 million.
Kearny Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Wednesday, February 4th. Kearny Financial's payout ratio is currently 84.62%.
Institutional Investors Weigh In On Kearny Financial
Hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. raised its position in shares of Kearny Financial by 11,688.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company's stock valued at $27,000 after purchasing an additional 4,091 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Kearny Financial in the fourth quarter worth about $74,000. Focus Partners Wealth bought a new stake in Kearny Financial in the third quarter valued at about $76,000. Nisa Investment Advisors LLC lifted its holdings in Kearny Financial by 18,309.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company's stock worth $75,000 after buying an additional 11,535 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Kearny Financial in the 3rd quarter worth approximately $78,000. Institutional investors and hedge funds own 71.01% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on KRNY shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Kearny Financial in a report on Friday, October 31st. Piper Sandler boosted their target price on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $8.00.
Get Our Latest Report on Kearny Financial
Kearny Financial Company Profile
(
Get Free Report)
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.
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