Key Points
- EVP Timothy Swansson sold 4,000 shares at $7.60 on March 10 for $30,400, cutting his stake by 6.69% to 55,833 shares (disclosed in an SEC filing).
- Kearny missed quarterly expectations, reporting EPS of $0.15 versus the $0.16 consensus and revenue of $43.54 million versus $44.84 million.
- The stock traded around $7.25 (down ~0.9%), with a market cap near $469 million and offers a 6.1% dividend yield but a high payout ratio of about 84.6%.
Kearny Financial (NASDAQ:KRNY - Get Free Report) EVP Timothy Swansson sold 4,000 shares of the firm's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total transaction of $30,400.00. Following the transaction, the executive vice president owned 55,833 shares in the company, valued at $424,330.80. This represents a 6.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Kearny Financial Stock Down 0.9%
Kearny Financial stock traded down $0.07 during mid-day trading on Friday, hitting $7.25. 169,432 shares of the company's stock were exchanged, compared to its average volume of 391,441. Kearny Financial has a 1-year low of $5.45 and a 1-year high of $8.50. The stock has a 50 day moving average of $7.82 and a two-hundred day moving average of $7.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. The stock has a market cap of $469.04 million, a P/E ratio of 13.93 and a beta of 0.69.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its quarterly earnings results 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 4.26% and a net margin of 9.41%.The company had revenue of $43.54 million for the quarter, compared to the consensus estimate of $44.84 million.
Kearny Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.1%. Kearny Financial's dividend payout ratio (DPR) is currently 84.62%.
Hedge Funds Weigh In On Kearny Financial
Several hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in 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 period. Osaic Holdings Inc. lifted its holdings in Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company's stock valued at $27,000 after buying an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company's stock valued at $45,000 after buying an additional 1,605 shares during the period. New York State Common Retirement Fund lifted its holdings in Kearny Financial by 59.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company's stock valued at $64,000 after buying an additional 3,200 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in Kearny Financial in the fourth quarter valued at approximately $74,000. Institutional investors own 71.01% of the company's stock.
Analyst Ratings Changes
KRNY has been the subject of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Kearny Financial in a research note on Wednesday, January 28th. Piper Sandler boosted their price objective on Kearny Financial from $7.50 to $9.00 and gave the company 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.00.
View Our Latest Research Report on KRNY
About Kearny Financial
(
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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