Key Points
- Kearny Financial director Melvina Wong-Zaza bought 3,500 shares on June 11 at an average price of $8.57, spending about $29,995. After the purchase, she owned 33,910 shares, an 11.51% increase in her position.
- The company recently reported quarterly earnings of $0.15 per share, matching analyst expectations, with revenue of $44.31 million. Analysts now forecast full-year EPS of $0.61.
- Kearny Financial also paid a quarterly dividend of $0.11 per share, equal to an annualized yield of about 5.0%. The stock has drawn mixed analyst views, with an average rating of Hold and a $9.50 price target.
Kearny Financial (NASDAQ:KRNY - Get Free Report) Director Melvina Wong-Zaza purchased 3,500 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $8.57 per share, with a total value of $29,995.00. Following the completion of the transaction, the director directly owned 33,910 shares of the company's stock, valued at $290,608.70. The trade was a 11.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Kearny Financial Stock Performance
Shares of KRNY opened at $8.79 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $569.06 million, a price-to-earnings ratio of 15.42 and a beta of 0.66. The stock has a 50 day moving average of $8.10 and a 200 day moving average of $7.79. Kearny Financial has a 12 month low of $5.76 and a 12 month high of $8.80.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, meeting analysts' consensus estimates of $0.15. The company had revenue of $44.31 million during the quarter, compared to the consensus estimate 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 forecast that Kearny Financial will post 0.61 earnings per share for the current year.
Kearny Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial's dividend payout ratio (DPR) is presently 77.19%.
Institutional Investors Weigh In On Kearny Financial
Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Kearny Financial by 103.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company's stock worth $26,000 after purchasing an additional 1,753 shares during the period. Osaic Holdings Inc. boosted its holdings in 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 worth $27,000 after buying an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Kearny Financial by 35.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company's stock worth $45,000 after buying an additional 1,605 shares during the period. Parallel Advisors LLC raised its holdings in Kearny Financial by 119.5% during the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company's stock valued at $55,000 after acquiring an additional 3,946 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in Kearny Financial by 59.4% during the 4th 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 acquiring an additional 3,200 shares during the period. Institutional investors own 71.01% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently commented on KRNY. Piper Sandler began coverage on Kearny Financial in a research report on Monday, April 27th. They set an "overweight" rating and a $9.50 price target for the company. Zacks Research raised Kearny Financial to a "hold" rating in a research report on Monday, April 27th. Finally, Weiss Ratings downgraded Kearny Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Kearny Financial currently has an average rating of "Hold" and an average target price of $9.50.
View Our Latest Stock Analysis on KRNY
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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