Insider Buying: Kearny Financial (NASDAQ:KRNY) Director Acquires $41,283.00 in Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields bought 4,950 shares of Kearny Financial stock in a transaction that occurred on Wednesday, June 17th. The stock was purchased at an average cost of $8.34 per share, for a total transaction of $41,283.00. Following the acquisition, the director owned 39,600 shares of the company’s stock, valued at $330,264. This represents a 14.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Kearny Financial Stock Performance

NASDAQ KRNY opened at $8.47 on Friday. Kearny Financial has a 52 week low of $5.76 and a 52 week high of $8.89. The firm has a 50 day moving average of $8.17 and a two-hundred day moving average of $7.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $548.35 million, a PE ratio of 14.86 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The business had revenue of $44.31 million for the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. As a group, research analysts expect that Kearny Financial will post 0.61 EPS for the current fiscal year.

Kearny Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a $0.11 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.44 dividend on an annualized basis and a yield of 5.2%. Kearny Financial’s dividend payout ratio (DPR) is currently 77.19%.

Hedge Funds Weigh In On Kearny Financial

Hedge funds have recently made changes to their positions in the company. M&T Bank Corp acquired a new stake in Kearny Financial during the 4th quarter worth $1,145,000. Segall Bryant & Hamill LLC acquired a new position in Kearny Financial in the third quarter valued at $1,583,000. Bailard Inc. acquired a new position in Kearny Financial in the fourth quarter valued at $711,000. Rafferty Asset Management LLC raised its holdings in shares of Kearny Financial by 30.6% in the third quarter. Rafferty Asset Management LLC now owns 65,199 shares of the savings and loans company’s stock valued at $428,000 after buying an additional 15,293 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Kearny Financial in the third quarter valued at about $207,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings cut Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Zacks Research upgraded Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Finally, Piper Sandler started coverage on Kearny Financial in a report on Monday, April 27th. They issued an “overweight” rating and a $9.50 price target for the company. One equities research 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 has a consensus rating of “Hold” and a consensus target price of $9.50.

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.