Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Acquires 4,950 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 4,950 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $8.71 per share, for a total transaction of $43,114.50. Following the purchase, the director directly owned 34,650 shares of the company’s stock, valued at approximately $301,801.50. This trade represents a 16.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kearny Financial Stock Down 2.4%

NASDAQ KRNY opened at $8.58 on Tuesday. The stock’s 50-day moving average price is $8.12 and its 200-day moving average price is $7.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. Kearny Financial has a 52 week low of $5.76 and a 52 week high of $8.89. The company has a market capitalization of $555.47 million, a P/E ratio of 15.05 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY) 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. 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 for the quarter, compared to the consensus estimate of $43.67 million. On average, equities research analysts predict that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 annualized dividend and a dividend yield of 5.1%. Kearny Financial’s dividend payout ratio (DPR) is 77.19%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KRNY. Weiss Ratings downgraded Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Piper Sandler initiated coverage on Kearny Financial in a research note on Monday, April 27th. They issued an “overweight” rating and a $9.50 price objective on the stock. Finally, Zacks Research upgraded Kearny Financial to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Kearny Financial presently has a consensus rating of “Hold” and an average price target of $9.50.

Hedge Funds Weigh In On Kearny Financial

Institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp purchased a new position in shares of Kearny Financial in the 4th quarter worth approximately $1,145,000. Segall Bryant & Hamill LLC purchased a new position in shares of Kearny Financial in the 3rd quarter worth approximately $1,583,000. Bailard Inc. purchased a new position in shares of Kearny Financial in the 4th quarter worth approximately $711,000. Rafferty Asset Management LLC boosted its holdings in shares of Kearny Financial by 30.6% in the 3rd quarter. Rafferty Asset Management LLC now owns 65,199 shares of the savings and loans company’s stock worth $428,000 after purchasing an additional 15,293 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Kearny Financial in the 3rd quarter worth approximately $207,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Kearny Financial

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.