Private Advisor Group LLC Cuts Stake in Kearny Financial (KRNY)
Private Advisor Group LLC decreased its holdings in Kearny Financial (NASDAQ:KRNY) by 15.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,641 shares of the savings and loans company’s stock after selling 5,236 shares during the period. Private Advisor Group LLC’s holdings in Kearny Financial were worth $424,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its position in Kearny Financial by 243.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,972 shares of the savings and loans company’s stock valued at $148,000 after buying an additional 7,068 shares during the period. BNP Paribas Arbitrage SA boosted its position in Kearny Financial by 546.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,070 shares of the savings and loans company’s stock valued at $164,000 after buying an additional 9,358 shares during the period. Greenwood Capital Associates LLC boosted its position in Kearny Financial by 6.9% during the 2nd quarter. Greenwood Capital Associates LLC now owns 16,316 shares of the savings and loans company’s stock valued at $242,000 after buying an additional 1,054 shares during the period. Victory Capital Management Inc. boosted its position in Kearny Financial by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 18,007 shares of the savings and loans company’s stock valued at $267,000 after buying an additional 2,698 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Kearny Financial during the 3rd quarter valued at $304,000. 62.44% of the stock is owned by institutional investors.
Shares of Kearny Financial (KRNY) opened at $14.35 on Wednesday. The firm has a market cap of $1,166.66, a price-to-earnings ratio of 62.61 and a beta of 0.56. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. Kearny Financial has a 12-month low of $13.35 and a 12-month high of $15.95.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.12 annualized dividend and a yield of 0.84%. Kearny Financial’s payout ratio is currently 52.17%.
In other Kearny Financial news, Director Matthew T. Mcclane sold 13,804 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $14.42, for a total transaction of $199,053.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.78% of the company’s stock.
Kearny Financial 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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