Kearny Financial (NASDAQ:KRNY) EVP Sells $21,150.00 in Stock

Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $8.46, for a total value of $21,150.00. Following the sale, the executive vice president directly owned 51,865 shares of the company’s stock, valued at $438,777.90. The trade was a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Kearny Financial Stock Performance

Kearny Financial stock traded up $0.17 on Wednesday, reaching $8.63. 265,799 shares of the stock were exchanged, compared to its average volume of 351,303. The stock has a market cap of $558.38 million, a PE ratio of 15.11 and a beta of 0.66. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Kearny Financial has a twelve month low of $5.76 and a twelve month high of $8.67. The firm has a fifty day moving average price of $8.03 and a two-hundred day moving average price of $7.76.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The firm had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. Sell-side analysts anticipate that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.1%. Kearny Financial’s dividend payout ratio is currently 77.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KRNY shares. Piper Sandler started coverage on shares of Kearny Financial in a research report on Monday, April 27th. They set an “overweight” rating and a $9.50 price objective for the company. Zacks Research raised shares of Kearny Financial to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KRNY. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 1,753 shares in the last quarter. Osaic Holdings Inc. grew its stake in Kearny Financial by 11,688.6% during 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 during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in 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 buying an additional 1,605 shares during the last quarter. Parallel Advisors LLC grew its stake in Kearny Financial by 119.5% during the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after buying an additional 3,946 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Kearny Financial by 59.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock worth $64,000 after buying an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.