Cipher Capital LP Decreases Holdings in Kearny Financial (KRNY)
Cipher Capital LP lessened its stake in shares of Kearny Financial (NASDAQ:KRNY) by 67.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,489 shares of the savings and loans company’s stock after selling 76,302 shares during the period. Cipher Capital LP’s holdings in Kearny Financial were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of Kearny Financial by 46.6% during the 2nd quarter. Legal & General Group Plc now owns 30,720 shares of the savings and loans company’s stock worth $456,000 after acquiring an additional 9,765 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Kearny Financial by 73.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 156,900 shares of the savings and loans company’s stock worth $2,361,000 after acquiring an additional 66,485 shares during the period. Ramsey Quantitative Systems purchased a new position in shares of Kearny Financial during the 2nd quarter worth $316,000. Renaissance Technologies LLC raised its holdings in shares of Kearny Financial by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,703,521 shares of the savings and loans company’s stock worth $54,997,000 after acquiring an additional 262,503 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Kearny Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,524 shares of the savings and loans company’s stock worth $68,422,000 after acquiring an additional 315,492 shares during the period. Institutional investors and hedge funds own 64.27% of the company’s stock.
Kearny Financial (KRNY) opened at $14.45 on Monday. Kearny Financial has a fifty-two week low of $13.35 and a fifty-two week high of $16.10. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $1,170.71, a price-to-earnings ratio of 62.83 and a beta of 0.59.
Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Monday, October 30th. The savings and loans company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $29.90 million for the quarter. Kearny Financial had a return on equity of 1.79% and a net margin of 12.31%.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 5th. Kearny Financial’s payout ratio is 52.17%.
KRNY has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $13.00 price target on shares of Kearny Financial in a report on Thursday, August 3rd. BidaskClub lowered Kearny Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th.
In related news, Director Matthew T. Mcclane sold 13,804 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $14.42, for a total transaction of $199,053.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodore J. Aanensen sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $14.11, for a total value of $28,220.00. The disclosure for this sale can be found here. 3.78% of the stock is currently owned by company insiders.
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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