Kearny Financial (NASDAQ:KRNY) Director Leopold Montanaro Acquires 4,773 Shares

Kearny Financial (NASDAQ:KRNY) Director Leopold Montanaro acquired 4,773 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $9.46 per share, for a total transaction of $45,152.58. Following the acquisition, the director directly owned 270,000 shares of the company’s stock, valued at $2,554,200. This trade represents a 1.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Kearny Financial Price Performance

Kearny Financial stock traded up $0.10 during midday trading on Tuesday, reaching $9.56. The company’s stock had a trading volume of 253,623 shares, compared to its average volume of 423,101. Kearny Financial has a fifty-two week low of $5.87 and a fifty-two week high of $9.81. 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 stock’s 50 day simple moving average is $9.13 and its 200 day simple moving average is $8.31. The firm has a market capitalization of $619.04 million, a PE ratio of 16.78 and a beta of 0.64.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $45.69 million for the quarter, compared to analyst estimates of $45.61 million. Kearny Financial had a return on equity of 4.92% and a net margin of 10.45%. On average, equities research analysts forecast that Kearny Financial will post 0.8 earnings per share for the current year.

Kearny Financial Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on KRNY. Zacks Research raised shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. Piper Sandler boosted their price target on Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings cut Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.50.

Hedge Funds Weigh In On Kearny Financial

Hedge funds have recently bought and sold shares of the stock. Vise Technologies Inc. purchased a new stake in Kearny Financial during the 2nd quarter worth about $98,000. BlackRock Inc. acquired a new stake in shares of Kearny Financial during the 2nd quarter worth about $84,461,000. Pallas Capital Advisors LLC purchased a new stake in shares of Kearny Financial during the second quarter worth about $164,000. Deutsche Bank AG acquired a new position in shares of Kearny Financial in the second quarter valued at approximately $542,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Kearny Financial during the second quarter valued at approximately $3,685,000. Hedge funds and other institutional investors 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.