Key Points
- Kearny Financial director Curtland Fields bought 4,950 shares on June 12 at an average price of $8.71, a purchase worth about $43,114.50. The trade increased his holdings by 16.67% to 34,650 shares.
- The stock was trading at $8.58, near its 52-week high of $8.89, and the company has a market cap of about $555.47 million. Kearny Financial also reported steady quarterly results, matching EPS expectations at $0.15 and posting revenue above estimates.
- The company paid a quarterly dividend of $0.11 per share, or $0.44 annualized, which works out to a 5.1% yield. Wall Street’s consensus rating is Hold, with an average price target of $9.50.
Kearny Financial (NASDAQ:KRNY - Get Free Report) Director Curtland Fields bought 4,950 shares of the company's stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $8.71 per share, with a total value of $43,114.50. Following the acquisition, the director owned 34,650 shares in the company, valued at approximately $301,801.50. This trade represents a 16.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Kearny Financial Price Performance
Shares of Kearny Financial stock opened at $8.58 on Tuesday. The stock has a market cap of $555.47 million, a price-to-earnings ratio of 15.05 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. The stock has a 50 day moving average price of $8.12 and a 200-day moving average price of $7.81. Kearny Financial has a one year low of $5.76 and a one year high of $8.89.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%.The firm had revenue of $44.31 million during the quarter, compared to analysts' expectations of $43.67 million. Equities analysts expect that Kearny Financial will post 0.61 EPS 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 paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial's dividend payout ratio (DPR) is currently 77.19%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Zacks Research raised Kearny Financial to a "hold" rating in a research note on Monday, April 27th. Piper Sandler assumed coverage on Kearny Financial in a research note on Monday, April 27th. They set an "overweight" rating and a $9.50 price target for the company. Finally, Weiss Ratings lowered Kearny Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.50.
View Our Latest Report on KRNY
Institutional Investors Weigh In On Kearny Financial
A number of institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC raised its position 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 purchasing an additional 3,946 shares in the last quarter. Empowered Funds LLC raised its position in Kearny Financial by 16.4% during the 1st quarter. Empowered Funds LLC now owns 276,505 shares of the savings and loans company's stock valued at $2,088,000 after purchasing an additional 39,036 shares in the last quarter. Quantinno Capital Management LP raised its position in Kearny Financial by 25.5% during the 1st quarter. Quantinno Capital Management LP now owns 238,229 shares of the savings and loans company's stock valued at $1,799,000 after purchasing an additional 48,350 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position 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 purchasing an additional 81,050 shares in the last quarter. Finally, Sei Investments Co. raised its position in Kearny Financial by 110.8% during the 1st quarter. Sei Investments Co. now owns 92,759 shares of the savings and loans company's stock valued at $700,000 after purchasing an additional 48,759 shares in the last quarter. 71.01% of the stock is owned by institutional investors.
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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