Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce Sells 4,000 Shares

Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce sold 4,000 shares of Kearny Financial stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $7.65, for a total value of $30,600.00. Following the transaction, the executive vice president directly owned 54,365 shares of the company’s stock, valued at $415,892.25. This trade represents a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kearny Financial Stock Performance

NASDAQ:KRNY opened at $7.60 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $492.02 million, a P/E ratio of 14.62 and a beta of 0.70. The firm has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $6.81. Kearny Financial has a twelve month low of $5.45 and a twelve month high of $8.50.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 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 4.27%. The business had revenue of $43.54 million during the quarter, compared to analyst estimates of $44.84 million.

Kearny Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, February 4th. Kearny Financial’s payout ratio is 84.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KRNY. Piper Sandler boosted their target price 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 reissued a “hold (c)” rating on shares of Kearny Financial in a research report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.00.

Institutional Trading of Kearny Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its holdings in shares of Kearny Financial by 11,688.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after acquiring an additional 4,091 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Kearny Financial in the 4th quarter valued at $74,000. Nisa Investment Advisors LLC grew its stake in shares of Kearny Financial by 18,309.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company’s stock valued at $75,000 after buying an additional 11,535 shares during the period. Focus Partners Wealth acquired a new stake in shares of Kearny Financial during the 3rd quarter worth $76,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Kearny Financial in the 3rd quarter worth $78,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.