Kearny Financial (NASDAQ:KRNY) Director Curtland Fields Purchases 14,700 Shares

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields acquired 14,700 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was purchased at an average cost 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 approximately $544,839. This trade represents a 34.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Kearny Financial Stock Up 2.1%

Kearny Financial stock opened at $9.65 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day moving average is $8.88 and its 200-day moving average is $8.19. The firm has a market capitalization of $624.73 million, a PE ratio of 16.93 and a beta of 0.64. Kearny Financial has a fifty-two week low of $5.76 and a fifty-two week high of $9.76.

Kearny Financial (NASDAQ:KRNY) last issued 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). The firm had revenue of $45.69 million during the quarter, compared to analyst estimates of $45.61 million. Kearny Financial had a net margin of 10.45% and a return on equity of 4.92%. Sell-side analysts anticipate that Kearny Financial will post 0.8 earnings per share for the current year.

Kearny Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, August 12th. Kearny Financial’s payout ratio is currently 77.19%.

Institutional Investors Weigh In On Kearny Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of Kearny Financial by 103.4% during 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 acquiring an additional 1,753 shares during the period. Osaic Holdings Inc. increased its position 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 purchasing an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after purchasing an additional 1,605 shares in the last quarter. Parallel Advisors LLC raised its stake in Kearny Financial by 119.5% in the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after purchasing an additional 3,946 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Kearny Financial by 59.4% in the fourth 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 in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler increased their price target on Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Weiss Ratings lowered shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.50.

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.