Key Points
- Director Curtland Fields bought 4,800 shares of Kearny Financial at an average price of $8.61, spending $41,328 and boosting his ownership by 19.28% to 29,700 shares.
- Kearny Financial recently reported Q1 earnings of $0.15 per share, matching estimates, while revenue of $44.31 million came in slightly above expectations.
- The company continues to pay a quarterly dividend of $0.11 per share, which annualizes to a 5.1% yield; analysts currently rate the stock Moderate Buy with a $9.50 average target price.
Kearny Financial (NASDAQ:KRNY - Get Free Report) Director Curtland Fields purchased 4,800 shares of the business's stock in a transaction on Wednesday, June 10th. The stock was bought at an average cost of $8.61 per share, with a total value of $41,328.00. Following the purchase, the director owned 29,700 shares in the company, valued at approximately $255,717. This represents a 19.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Kearny Financial Price Performance
KRNY stock opened at $8.66 on Friday. The stock has a market cap of $560.65 million, a PE ratio of 15.19 and a beta of 0.66. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. Kearny Financial has a one year low of $5.76 and a one year high of $8.75. The firm has a 50 day simple moving average of $8.08 and a two-hundred day simple moving average of $7.79.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.15. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. The company had revenue of $44.31 million during the quarter, compared to analysts' expectations of $43.67 million. On average, analysts predict that Kearny Financial will post 0.61 EPS for the current fiscal year.
Kearny Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid 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 dividend yield of 5.1%. Kearny Financial's dividend payout ratio is 77.19%.
Institutional Investors Weigh In On Kearny Financial
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in 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 valued at $22,002,000 after buying an additional 133,683 shares during the last quarter. AQR Capital Management LLC raised its holdings in Kearny Financial by 36.4% during the 4th 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 buying an additional 539,811 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Kearny Financial by 488.8% during the 4th 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 buying an additional 1,339,062 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Kearny Financial by 6.0% during the 1st 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 buying an additional 81,050 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Kearny Financial by 2.3% during the 2nd quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company's stock valued at $7,796,000 after buying an additional 27,460 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, May 26th. Piper Sandler assumed coverage on shares of Kearny Financial in a research note on Monday, April 27th. They issued an "overweight" rating and a $9.50 price objective for the company. Finally, Zacks Research raised shares of Kearny Financial to a "hold" rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.50.
View Our Latest Research Report on Kearny Financial
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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