Key Points
- EVP Patrick Joyce sold 2,500 shares of Kearny Financial on June 9 at an average price of $8.46, worth about $21,150. After the sale, he still held 51,865 shares.
- The stock was trading near its 52-week high, opening at $8.64 and rising 2.1%, with a 1-year range of $5.76 to $8.67. Kearny Financial also showed a market cap of about $559 million and a dividend yield of 5.1%.
- Analysts remain cautiously positive on KRNY, with two Buy ratings and one Hold rating, giving it a consensus “Moderate Buy” and an average price target of $9.50. The company also recently met earnings estimates, reporting $0.15 EPS for the quarter.
Kearny Financial (NASDAQ:KRNY - Get Free Report) EVP Patrick Joyce sold 2,500 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $8.46, for a total value of $21,150.00. Following the completion of the transaction, the executive vice president owned 51,865 shares of the company's stock, valued at $438,777.90. The trade was a 4.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Kearny Financial Trading Up 2.1%
NASDAQ:KRNY opened at $8.64 on Thursday. The stock has a fifty day moving average price of $8.06 and a two-hundred day moving average price of $7.77. The stock has a market capitalization of $559.35 million, a price-to-earnings ratio of 15.16 and a beta of 0.66. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03. Kearny Financial has a 1 year low of $5.76 and a 1 year high of $8.67.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $44.31 million during the quarter, compared to analysts' expectations of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. As a group, sell-side analysts anticipate that Kearny Financial will post 0.61 earnings per share for the current fiscal year.
Kearny Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were issued a $0.11 dividend. The ex-dividend date of this dividend 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 (DPR) is 77.19%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in KRNY. Goldman Sachs Group Inc. increased its stake in shares of Kearny Financial by 8.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 729,773 shares of the savings and loans company's stock worth $4,568,000 after purchasing an additional 54,606 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Kearny Financial during the 1st quarter worth approximately $146,000. Empowered Funds LLC increased its stake in shares of Kearny Financial by 8.7% during the 1st quarter. Empowered Funds LLC now owns 181,165 shares of the savings and loans company's stock worth $1,134,000 after purchasing an additional 14,427 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Kearny Financial by 95.0% during the 1st quarter. Jane Street Group LLC now owns 152,595 shares of the savings and loans company's stock worth $955,000 after purchasing an additional 74,349 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Kearny Financial by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 89,669 shares of the savings and loans company's stock worth $579,000 after purchasing an additional 4,340 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on KRNY shares. Piper Sandler started coverage on shares of Kearny Financial in a report on Monday, April 27th. They issued an "overweight" rating and a $9.50 target price for the company. Weiss Ratings raised shares of Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, May 26th. Finally, Zacks Research upgraded Kearny Financial to a "hold" rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Kearny Financial has a consensus rating of "Moderate Buy" and an average target price of $9.50.
Get Our Latest Stock Analysis 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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