Kearny Financial Corp. (KRNY) Sees Strong Trading Volume
Kearny Financial Corp. (NASDAQ:KRNY) saw an uptick in trading volume on Friday . 5,433,629 shares were traded during mid-day trading, an increase of 325% from the previous session’s volume of 1,277,719 shares.The stock last traded at $13.75 and had previously closed at $13.89.
Separately, Keefe, Bruyette & Woods upped their price objective on shares of Kearny Financial Corp. from $13.00 to $13.50 and gave the company a “market perform” rating in a research report on Wednesday, September 7th.
The company has a 50-day moving average of $13.44 and a 200 day moving average of $12.87. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 77.68 and a beta of 0.56.
Kearny Financial Corp. (NASDAQ:KRNY) last released its earnings results on Thursday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Kearny Financial Corp. had a net margin of 11.50% and a return on equity of 1.36%. Equities analysts forecast that Kearny Financial Corp. will post $0.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.58%. Kearny Financial Corp.’s dividend payout ratio is currently 47.06%.
In other Kearny Financial Corp. news, Director John F. Mcgovern purchased 3,300 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were acquired at an average price of $13.29 per share, for a total transaction of $43,857.00. Following the acquisition, the director now owns 194,853 shares of the company’s stock, valued at $2,589,596.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.51% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRNY. A.R.T. Advisors LLC acquired a new position in Kearny Financial Corp. during the second quarter worth $126,000. Benin Management CORP acquired a new position in Kearny Financial Corp. during the second quarter worth $127,000. Jefferies Group LLC acquired a new position in Kearny Financial Corp. during the second quarter worth $131,000. Paradigm Asset Management Co. LLC increased its position in Kearny Financial Corp. by 8.4% in the second quarter. Paradigm Asset Management Co. LLC now owns 11,668 shares of the company’s stock worth $147,000 after buying an additional 900 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Kearny Financial Corp. during the second quarter worth $149,000. Institutional investors and hedge funds own 62.47% of the company’s stock.
Kearny Financial Corp. Company Profile
Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.
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