Key Points
- Director buying: Melvina Wong-Zaza purchased 1,560 Kearny Financial shares at $9.63 each, increasing her direct holding by 4.6% to 35,470 shares.
- Financial performance: Kearny Financial reported quarterly EPS of $0.15, below the $0.17 consensus estimate, while revenue of $45.69 million slightly exceeded expectations.
- Investor outlook: The company pays a quarterly dividend of $0.11, equivalent to a 4.6% annualized yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $10.75.
Kearny Financial (NASDAQ:KRNY - Get Free Report) Director Melvina Wong-Zaza purchased 1,560 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was bought at an average cost of $9.63 per share, for a total transaction of $15,022.80. Following the acquisition, the director directly owned 35,470 shares in the company, valued at $341,576.10. This trade represents a 4.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Kearny Financial Price Performance
Shares of NASDAQ KRNY opened at $9.56 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.50. The stock has a fifty day simple moving average of $9.68 and a two-hundred day simple moving average of $8.67. Kearny Financial has a 1-year low of $6.22 and a 1-year high of $10.23. The firm has a market cap of $620.73 million, a price-to-earnings ratio of 16.77 and a beta of 0.63.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last issued its earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). The firm had revenue of $45.69 million during the quarter, compared to the consensus estimate of $45.61 million. Kearny Financial had a net margin of 10.45% and a return on equity of 4.90%. Analysts anticipate that Kearny Financial will post 0.79 earnings per share for the current year.
Kearny Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Wednesday, August 12th. Kearny Financial's dividend payout ratio (DPR) is currently 77.19%.
Institutional Trading of Kearny Financial
Institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in Kearny Financial in the 2nd quarter worth about $83,000. Corient Private Wealth LP increased its position in shares of Kearny Financial by 38.7% during the second quarter. Corient Private Wealth LP now owns 46,067 shares of the savings and loans company's stock valued at $436,000 after buying an additional 12,851 shares during the period. AXQ Capital LP purchased a new stake in shares of Kearny Financial in the second quarter worth about $171,000. Headlands Technologies LLC lifted its holdings in shares of Kearny Financial by 82.9% in the second quarter. Headlands Technologies LLC now owns 36,389 shares of the savings and loans company's stock worth $344,000 after buying an additional 16,496 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its position in shares of Kearny Financial by 61.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 78,907 shares of the savings and loans company's stock valued at $746,000 after acquiring an additional 30,017 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on KRNY shares. Raymond James Financial initiated coverage on shares of Kearny Financial in a research report on Wednesday, August 26th. They issued an "outperform" rating and a $11.00 price target on the stock. Piper Sandler raised their price objective on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 24th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Kearny Financial has an average rating of "Moderate Buy" and an average target price of $10.75.
Read Our Latest Stock Report on Kearny Financial
Kearny Financial Company Profile
(
Get Free Report)
Kearny Financial Corp. is the holding company for Kearny Bank, a community-oriented savings bank serving customers in New Jersey and New York. Founded in 1884 as a mutual savings institution, Kearny Bank has historically focused on relationship-based banking for individuals, families, businesses and nonprofit organizations.
The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and retirement accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate loans, construction financing, commercial and industrial loans, and consumer credit.
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