Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Purchases 14,700 Shares

Key Points

  • Director Curtland Fields bought 14,700 Kearny Financial shares at an average price of $9.41, investing $138,327 and increasing his direct holdings by 34.03% to 57,900 shares.
  • Kearny Financial reported quarterly EPS of $0.15, below the $0.17 consensus estimate, while revenue of $45.69 million slightly exceeded expectations. The stock opened at $9.65, up 2.1%.
  • The company declared a quarterly dividend of $0.11 per share, equivalent to an annualized $0.44 payout and a 4.6% yield. Analysts maintain a consensus “Hold” rating with a $10.50 average price target.

Kearny Financial (NASDAQ:KRNY - Get Free Report) Director Curtland Fields purchased 14,700 shares of Kearny Financial stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average price of $9.41 per share, for a total transaction of $138,327.00. Following the transaction, the director directly owned 57,900 shares in the company, valued at $544,839. This represents a 34.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Kearny Financial Stock Up 2.1%

Shares of KRNY opened at $9.65 on Wednesday. Kearny Financial has a one year low of $5.76 and a one year high of $9.76. The company has a market cap of $624.73 million, a P/E ratio of 16.93 and a beta of 0.64. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $8.88 and a two-hundred day simple moving average of $8.19.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The business had revenue of $45.69 million for the quarter, compared to the consensus estimate of $45.61 million. Kearny Financial had a return on equity of 4.92% and a net margin of 10.45%. Research analysts forecast that Kearny Financial will post 0.8 EPS for the current fiscal year.

Kearny Financial Dividend Announcement




The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.44 annualized dividend and a yield of 4.6%. Kearny Financial's payout ratio is presently 77.19%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KRNY. Vanguard Group Inc. grew its holdings in shares of Kearny Financial by 4.2% during the third 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 increased its position in shares of Kearny Financial by 36.4% during the fourth quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company's stock worth $14,993,000 after acquiring an additional 539,811 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Kearny Financial by 488.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company's stock worth $11,952,000 after acquiring an additional 1,339,062 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Kearny Financial by 6.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company's stock worth $10,851,000 after acquiring an additional 81,050 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Kearny Financial by 2.3% in 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 acquiring an additional 27,460 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KRNY. Piper Sandler raised their target price on shares of Kearny Financial from $9.50 to $10.50 and gave the company an "overweight" rating in a research report on Thursday, June 25th. Weiss Ratings cut Kearny Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Kearny Financial to a "hold" rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Kearny Financial presently has an average rating of "Hold" and an average price target of $10.50.

Get Our Latest Stock 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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