Kearny Financial (NASDAQ:KRNY) EVP Sells $30,400.00 in Stock

Kearny Financial (NASDAQ:KRNY) EVP Timothy Swansson sold 4,000 shares of Kearny Financial stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total transaction of $30,400.00. Following the completion of the transaction, the executive vice president directly owned 55,833 shares in the company, valued at $424,330.80. This trade represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Kearny Financial Price Performance

NASDAQ KRNY traded down $0.05 on Thursday, hitting $7.29. 130,179 shares of the company’s stock were exchanged, compared to its average volume of 390,272. The stock has a 50-day moving average of $7.82 and a 200-day moving average of $7.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. Kearny Financial has a 52 week low of $5.45 and a 52 week high of $8.50. The stock has a market cap of $471.95 million, a price-to-earnings ratio of 13.99 and a beta of 0.69.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a net margin of 9.41% and a return on equity of 4.26%. The business had revenue of $43.54 million during the quarter, compared to the consensus estimate of $44.84 million.

Kearny Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Wednesday, February 4th. Kearny Financial’s payout ratio is currently 84.62%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Kearny Financial by 103.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock worth $26,000 after acquiring an additional 1,753 shares during the period. Osaic Holdings Inc. lifted its holdings in 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 valued at $27,000 after buying an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Kearny Financial by 35.6% in the 4th 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 in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Kearny Financial by 59.4% in the 4th quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock valued at $64,000 after purchasing an additional 3,200 shares during the period. Finally, Hennessy Advisors Inc. bought a new stake in shares of Kearny Financial during the 4th quarter valued at about $74,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Kearny Financial from $7.50 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kearny Financial in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

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.