Theodore J. Aanensen Sells 2,000 Shares of Kearny Financial (KRNY) Stock
Kearny Financial (NASDAQ:KRNY) Director Theodore J. Aanensen sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $14.11, for a total transaction of $28,220.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Kearny Financial (NASDAQ:KRNY) traded up 1.40% on Thursday, reaching $14.45. 400,687 shares of the company’s stock traded hands. The stock’s 50 day moving average is $14.29 and its 200 day moving average is $14.64. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 65.68 and a beta of 0.60. Kearny Financial has a 52-week low of $13.35 and a 52-week high of $16.10.
Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings data on Friday, July 28th. The savings and loans company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Kearny Financial had a net margin of 12.37% and a return on equity of 1.70%. The business had revenue of $29.75 million for the quarter. On average, equities research analysts predict that Kearny Financial will post $0.24 EPS for the current fiscal year.
Kearny Financial declared that its board has authorized a stock repurchase program on Wednesday, May 24th that permits the company to buyback 8,560,000 outstanding shares. This buyback authorization permits the savings and loans company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, August 30th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Monday, August 28th. Kearny Financial’s payout ratio is 57.15%.
ILLEGAL ACTIVITY NOTICE: “Theodore J. Aanensen Sells 2,000 Shares of Kearny Financial (KRNY) Stock” was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/09/14/theodore-j-aanensen-sells-2000-shares-of-kearny-financial-krny-stock.html.
Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new position in Kearny Financial in the first quarter valued at approximately $111,000. SG Americas Securities LLC bought a new position in Kearny Financial in the first quarter valued at approximately $118,000. Oppenheimer Asset Management Inc. lifted its stake in Kearny Financial by 243.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,972 shares of the savings and loans company’s stock valued at $148,000 after buying an additional 7,068 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Kearny Financial by 546.6% in the second quarter. BNP Paribas Arbitrage SA now owns 11,070 shares of the savings and loans company’s stock valued at $164,000 after buying an additional 9,358 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Kearny Financial by 18.5% in the first quarter. Victory Capital Management Inc. now owns 15,309 shares of the savings and loans company’s stock valued at $230,000 after buying an additional 2,388 shares in the last quarter. 63.83% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on KRNY shares. BidaskClub upgraded shares of Kearny Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $13.00 price objective on shares of Kearny Financial in a research note on Thursday, August 3rd.
Kearny Financial Company Profile
Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.
Receive News & Ratings for Kearny Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kearny Financial and related companies with MarketBeat.com's FREE daily email newsletter.