Kearny Financial (NASDAQ:KRNY) Director Buys $29,995.00 in Stock

Kearny Financial (NASDAQ:KRNY) Director Melvina Wong-Zaza bought 3,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $8.57 per share, with a total value of $29,995.00. Following the completion of the transaction, the director directly owned 33,910 shares in the company, valued at approximately $290,608.70. This represents a 11.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kearny Financial Price Performance

KRNY stock opened at $8.79 on Monday. The stock has a market capitalization of $569.06 million, a P/E ratio of 15.42 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 12 month low of $5.76 and a 12 month high of $8.80. The firm has a 50-day moving average price of $8.10 and a 200-day moving average price of $7.80.

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

Kearny Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a $0.11 dividend. 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 5.0%. Kearny Financial’s dividend payout ratio is 77.19%.

Analysts Set New Price Targets

KRNY has been the subject of a number of research reports. Piper Sandler initiated coverage on shares of Kearny Financial in a report on Monday, April 27th. They issued an “overweight” rating and a $9.50 target price for the company. Zacks Research raised shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.50.

Hedge Funds Weigh In On Kearny Financial

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Kearny Financial by 4.2% during the third quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after acquiring an additional 133,683 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Kearny Financial by 36.4% during the fourth quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock valued at $14,993,000 after acquiring an additional 539,811 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Kearny Financial by 488.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock valued at $11,952,000 after acquiring an additional 1,339,062 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Kearny Financial by 6.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock valued at $10,851,000 after acquiring an additional 81,050 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Kearny Financial by 2.3% during the second quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after acquiring an additional 27,460 shares during the last quarter. 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.