Public Employees Retirement System of Ohio Purchases Shares of 51,128 Kearny Financial $KRNY

Public Employees Retirement System of Ohio bought a new position in shares of Kearny Financial (NASDAQ:KRNY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 51,128 shares of the savings and loans company’s stock, valued at approximately $484,000. Public Employees Retirement System of Ohio owned approximately 0.08% of Kearny Financial at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in Kearny Financial during the 2nd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its position in shares of Kearny Financial by 103.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after buying an additional 1,753 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after buying an additional 4,091 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Kearny Financial in the second quarter worth $54,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Kearny Financial by 35.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after acquiring an additional 1,605 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KRNY has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 24th. Piper Sandler raised their price objective on Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Finally, Raymond James Financial started coverage on Kearny Financial in a report on Wednesday, August 26th. They issued an “outperform” rating and a $11.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Insider Activity at Kearny Financial

In related news, Director Curtland E. Fields bought 14,700 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were purchased at an average price of $9.41 per share, with a total value of $138,327.00. Following the transaction, the director owned 57,900 shares in the company, valued at $544,839. This trade represents a 34.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leopold Montanaro purchased 4,773 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $9.46 per share, with a total value of $45,152.58. Following the completion of the transaction, the director owned 270,000 shares of the company’s stock, valued at $2,554,200. The trade was a 1.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 28,023 shares of company stock valued at $255,039 over the last ninety days. Corporate insiders own 7.44% of the company’s stock.

Kearny Financial Price Performance

KRNY stock opened at $9.83 on Friday. Kearny Financial has a 52 week low of $6.22 and a 52 week high of $10.23. The firm has a market capitalization of $638.26 million, a P/E ratio of 17.25 and a beta of 0.63. The company has a fifty day simple moving average of $9.64 and a two-hundred day simple moving average of $8.60. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.50.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). Kearny Financial had a net margin of 10.45% and a return on equity of 4.90%. The business had revenue of $45.69 million for the quarter, compared to analysts’ expectations of $45.61 million. Analysts anticipate that Kearny Financial will post 0.79 earnings per share for the current fiscal year.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 12th. This represents a $0.44 dividend on an annualized basis and a yield of 4.5%. Kearny Financial’s dividend payout ratio is 77.19%.

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.