California Public Employees Retirement System Has $262,000 Position in Kearny Financial (KRNY)
California Public Employees Retirement System held its stake in shares of Kearny Financial (NASDAQ:KRNY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,400 shares of the savings and loans company’s stock at the end of the first quarter. California Public Employees Retirement System’s holdings in Kearny Financial were worth $262,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Cipher Capital LP raised its stake in Kearny Financial by 4.8% in the first quarter. Cipher Capital LP now owns 110,989 shares of the savings and loans company’s stock worth $1,670,000 after buying an additional 5,118 shares during the period. SG Americas Securities LLC bought a new stake in Kearny Financial during the first quarter worth approximately $118,000. JPMorgan Chase & Co. raised its stake in Kearny Financial by 71.7% in the first quarter. JPMorgan Chase & Co. now owns 564,403 shares of the savings and loans company’s stock worth $8,495,000 after buying an additional 235,752 shares during the period. Greenwood Capital Associates LLC raised its stake in Kearny Financial by 9.1% in the first quarter. Greenwood Capital Associates LLC now owns 15,262 shares of the savings and loans company’s stock worth $230,000 after buying an additional 1,276 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in Kearny Financial during the first quarter worth approximately $111,000. Institutional investors and hedge funds own 62.82% of the company’s stock.
Kearny Financial (NASDAQ KRNY) traded up 0.35% during midday trading on Wednesday, hitting $14.20. The company’s stock had a trading volume of 22,322 shares. The stock has a 50 day moving average of $14.54 and a 200 day moving average of $14.75. Kearny Financial has a 52-week low of $13.40 and a 52-week high of $16.10. The company has a market cap of $1.17 billion, a PE ratio of 64.55 and a beta of 0.58.
Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Friday, July 28th. The savings and loans company reported $0.05 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.05. The business had revenue of $29.75 million for the quarter. Kearny Financial had a net margin of 12.37% and a return on equity of 1.68%. On average, equities analysts expect that Kearny Financial will post $0.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 30th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.12 annualized dividend and a yield of 0.85%. Kearny Financial’s dividend payout ratio (DPR) is 57.15%.
Kearny Financial announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 24th that permits the company to repurchase 8,560,000 shares. This repurchase authorization permits the savings and loans company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of equities research analysts have commented on KRNY shares. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $13.00 price target on shares of Kearny Financial in a research report on Thursday, August 3rd. BidaskClub lowered Kearny Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th.
Kearny Financial 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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