Insider Buying: Kearny Financial (NASDAQ:KRNY) Director Acquires 4,950 Shares of Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields purchased 4,950 shares of the stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $8.71 per share, for a total transaction of $43,114.50. Following the completion of the transaction, the director owned 34,650 shares in the company, valued at $301,801.50. This trade represents a 16.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kearny Financial Price Performance

Shares of KRNY stock traded down $0.15 during mid-day trading on Monday, hitting $8.65. 134,264 shares of the stock traded hands, compared to its average volume of 351,983. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $559.68 million, a price-to-earnings ratio of 15.17 and a beta of 0.66. The company’s 50-day simple moving average is $8.10 and its 200-day simple moving average is $7.80. Kearny Financial has a twelve month low of $5.76 and a twelve month high of $8.89.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $44.31 million for the quarter, compared to analysts’ expectations of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. As a group, equities research analysts expect that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KRNY shares. Zacks Research upgraded Kearny Financial to a “hold” rating in a report on Monday, April 27th. Weiss Ratings cut Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Piper Sandler assumed coverage on shares of Kearny Financial in a report on Monday, April 27th. They set an “overweight” rating and a $9.50 price target on the stock. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.50.

Institutional Trading of Kearny Financial

Several hedge funds and other institutional investors have recently bought and sold shares of KRNY. CANADA LIFE ASSURANCE Co raised its holdings in 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 valued at $45,000 after acquiring an additional 1,605 shares in the last quarter. Russell Investments Group Ltd. grew its position in Kearny Financial by 15.6% during the 4th quarter. Russell Investments Group Ltd. now owns 11,930 shares of the savings and loans company’s stock worth $88,000 after acquiring an additional 1,610 shares during the last quarter. First Trust Advisors LP grew its position in Kearny Financial by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company’s stock worth $276,000 after acquiring an additional 1,668 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Kearny Financial by 103.4% in the 4th 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. Finally, Quantinno Capital Management LP boosted its position in Kearny Financial by 4.1% in the 2nd quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company’s stock valued at $305,000 after buying an additional 1,865 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Kearny Financial

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.