Kearny Financial (KRNY) Shares Bought by Renaissance Technologies LLC
Renaissance Technologies LLC increased its holdings in shares of Kearny Financial (NASDAQ:KRNY) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,703,521 shares of the savings and loans company’s stock after purchasing an additional 262,503 shares during the quarter. Renaissance Technologies LLC owned approximately 4.50% of Kearny Financial worth $54,997,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in KRNY. Villere ST Denis J & Co. LLC grew its position in shares of Kearny Financial by 16.5% during the second quarter. Villere ST Denis J & Co. LLC now owns 3,839,063 shares of the savings and loans company’s stock worth $57,010,000 after purchasing an additional 544,435 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Kearny Financial by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,292,032 shares of the savings and loans company’s stock worth $64,595,000 after purchasing an additional 410,306 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Kearny Financial by 71.7% during the first quarter. JPMorgan Chase & Co. now owns 564,403 shares of the savings and loans company’s stock worth $8,495,000 after purchasing an additional 235,752 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Kearny Financial by 3.6% during the first quarter. Vanguard Group Inc. now owns 6,399,468 shares of the savings and loans company’s stock worth $96,313,000 after purchasing an additional 224,755 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Kearny Financial during the first quarter worth about $1,739,000. Hedge funds and other institutional investors own 64.12% of the company’s stock.
In related news, Director Theodore J. Aanensen sold 2,000 shares of Kearny Financial 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.78% of the stock is owned by insiders.
Several analysts recently issued reports on the company. BidaskClub cut Kearny Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $13.00 target price on shares of Kearny Financial in a research report on Thursday, August 3rd.
Kearny Financial (NASDAQ:KRNY) opened at 15.35 on Friday. The company’s 50-day moving average price is $14.28 and its 200-day moving average price is $14.61. Kearny Financial has a 52 week low of $13.35 and a 52 week high of $16.10. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 69.77 and a beta of 0.60.
Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Friday, July 28th. The savings and loans company reported $0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Kearny Financial had a return on equity of 1.70% and a net margin of 12.37%. The firm had revenue of $29.75 million during the quarter. Equities analysts forecast that Kearny Financial will post $0.24 earnings per share for the current fiscal year.
The firm also recently declared a special dividend, which will be paid on Wednesday, October 18th. Investors of record on Wednesday, October 4th will be paid a $0.12 dividend. This represents a dividend yield of 0.79%. The ex-dividend date is Tuesday, October 3rd. This is a positive change from Kearny Financial’s previous special dividend of $0.02. Kearny Financial’s payout ratio is currently 57.15%.
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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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