Key Points
- Director Curtland Fields bought 4,950 shares of Kearny Financial at $8.34 per share, a transaction worth about $41,283. His ownership rose 14.29% to 39,600 shares.
- Kearny Financial recently reported quarterly EPS of $0.15, matching analyst expectations, while revenue of $44.31 million came in slightly above estimates.
- The stock offers a 5.2% dividend yield and has a consensus Hold rating from analysts, with an average price target of $9.50.
Kearny Financial (NASDAQ:KRNY - Get Free Report) Director Curtland Fields bought 3,600 shares of Kearny Financial stock in a transaction on Thursday, June 18th. The stock was purchased at an average price of $8.41 per share, with a total value of $30,276.00. Following the completion of the acquisition, the director directly owned 43,200 shares of the company's stock, valued at $363,312. This represents a 9.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Kearny Financial Stock Up 1.0%
NASDAQ:KRNY opened at $8.47 on Friday. Kearny Financial has a fifty-two week low of $5.76 and a fifty-two week high of $8.89. The stock has a market capitalization of $548.35 million, a P/E ratio of 14.86 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 company's 50-day simple moving average is $8.16 and its 200-day simple moving average is $7.85.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. On average, equities analysts anticipate that Kearny Financial will post 0.61 earnings per share for the current fiscal year.
Kearny Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.11 per share. 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 5.2%. Kearny Financial's dividend payout ratio is presently 77.19%.
Hedge Funds Weigh In On Kearny Financial
Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in Kearny Financial by 119.5% during the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company's stock worth $55,000 after buying an additional 3,946 shares in the last quarter. Empowered Funds LLC grew its position in Kearny Financial by 16.4% during the first quarter. Empowered Funds LLC now owns 276,505 shares of the savings and loans company's stock valued at $2,088,000 after buying an additional 39,036 shares during the period. Quantinno Capital Management LP grew its position in Kearny Financial by 25.5% during the first quarter. Quantinno Capital Management LP now owns 238,229 shares of the savings and loans company's stock valued at $1,799,000 after buying an additional 48,350 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Kearny Financial by 6.0% in the first 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 in the last quarter. Finally, Sei Investments Co. increased its holdings in Kearny Financial by 110.8% in the first quarter. Sei Investments Co. now owns 92,759 shares of the savings and loans company's stock valued at $700,000 after buying an additional 48,759 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on KRNY shares. Piper Sandler initiated coverage on Kearny Financial in a research note on Monday, April 27th. They set an "overweight" rating and a $9.50 target price on the stock. Weiss Ratings cut Kearny Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. Finally, Zacks Research raised Kearny Financial to a "hold" rating in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.50.
Read Our Latest Research Report on Kearny Financial
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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