Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Buys 3,600 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 3,600 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were bought at an average price of $8.41 per share, for a total transaction of $30,276.00. Following the acquisition, the director owned 43,200 shares of the company’s stock, valued at approximately $363,312. This represents a 9.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kearny Financial Stock Performance

Shares of Kearny Financial stock traded up $0.12 during midday trading on Thursday, hitting $8.51. The company had a trading volume of 448,919 shares, compared to its average volume of 359,546. The stock has a market cap of $550.61 million, a price-to-earnings ratio of 14.92 and a beta of 0.66. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. The company has a fifty day simple moving average of $8.15 and a 200 day simple moving average of $7.84. Kearny Financial has a 12-month low of $5.76 and a 12-month high of $8.89.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $44.31 million for the quarter, compared to the consensus estimate of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. As a group, analysts predict that Kearny Financial will post 0.61 earnings per share for the current fiscal 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 dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Wednesday, May 6th. Kearny Financial’s payout ratio is presently 77.19%.

Analyst Upgrades and Downgrades

KRNY has been the topic of a number of research analyst reports. Piper Sandler began coverage on shares of Kearny Financial in a report on Monday, April 27th. They set an “overweight” rating and a $9.50 price objective on the stock. Weiss Ratings lowered 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 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 company. Based on data from MarketBeat, Kearny Financial has a consensus rating of “Hold” and a consensus target price of $9.50.

Institutional Trading of Kearny Financial

Several large investors have recently made changes to their positions in KRNY. M&T Bank Corp purchased a new position in shares of Kearny Financial during the fourth quarter worth $1,145,000. Segall Bryant & Hamill LLC acquired a new position in Kearny Financial during the third quarter valued at $1,583,000. Bailard Inc. purchased a new stake in Kearny Financial in the fourth quarter valued at $711,000. Sei Investments Co. boosted 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 purchasing an additional 48,759 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Kearny Financial by 25.5% during the 1st quarter. Quantinno Capital Management LP now owns 238,229 shares of the savings and loans company’s stock worth $1,799,000 after purchasing an additional 48,350 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Kearny Financial Company Profile

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.