Insider Buying: Kearny Financial (NASDAQ:KRNY) Director Purchases $30,276.00 in Stock

Kearny Financial (NASDAQ:KRNY) Director Curtland Fields purchased 3,600 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were purchased at an average cost of $8.41 per share, for a total transaction of $30,276.00. Following the completion of the transaction, the director directly owned 43,200 shares of the company’s stock, valued at approximately $363,312. This represents a 9.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Kearny Financial Stock Performance

Shares of KRNY opened at $8.47 on Friday. The firm has a 50-day moving average of $8.17 and a 200-day moving average of $7.85. Kearny Financial has a one year low of $5.76 and a one year high of $8.89. The company has a market cap of $548.35 million, a PE ratio of 14.86 and a beta of 0.66. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The company 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, equities analysts forecast that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

KRNY has been the topic of several research analyst reports. Weiss Ratings lowered Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Piper Sandler began coverage on Kearny Financial in a report on Monday, April 27th. They set an “overweight” rating and a $9.50 target price on the stock. Finally, Zacks Research upgraded Kearny Financial to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Institutional Trading of Kearny Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co boosted its position in shares of Kearny Financial by 35.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after acquiring an additional 1,605 shares in the last quarter. Russell Investments Group Ltd. raised its position in Kearny Financial by 15.6% during the fourth quarter. Russell Investments Group Ltd. now owns 11,930 shares of the savings and loans company’s stock valued at $88,000 after purchasing an additional 1,610 shares in the last quarter. First Trust Advisors LP lifted its stake in Kearny Financial by 4.1% during the second quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company’s stock worth $276,000 after purchasing an additional 1,668 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kearny Financial by 103.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock worth $26,000 after purchasing an additional 1,753 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Kearny Financial by 4.1% in the 2nd quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company’s stock valued at $305,000 after purchasing an additional 1,865 shares in the last quarter. 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.