Curtland Fields Acquires 3,000 Shares of Kearny Financial (NASDAQ:KRNY) Stock

by · The Markets Daily

Kearny Financial (NASDAQ:KRNY – Get Free Report) Director Curtland Fields acquired 3,000 shares of Kearny Financial stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average cost of $8.40 per share, with a total value of $25,200.00. Following the purchase, the director owned 24,900 shares in the company, valued at $209,160. The trade was a 13.70% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Kearny Financial Stock Up 1.8%

Shares of KRNY stock traded up $0.15 on Tuesday, hitting $8.52. The company’s stock had a trading volume of 175,480 shares, compared to its average volume of 348,859. 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 has a fifty-two week low of $5.76 and a fifty-two week high of $8.53. The firm’s fifty day moving average price is $8.01 and its 200-day moving average price is $7.74. The stock has a market capitalization of $551.84 million, a price-to-earnings ratio of 14.94 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $44.31 million during 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%. Research analysts anticipate that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 dividend on an annualized basis and a yield of 5.2%. Kearny Financial’s payout ratio is currently 77.19%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KRNY. Zacks Research raised shares of Kearny Financial to a “hold” rating in a research report on Monday, April 27th. Piper Sandler began coverage on shares of Kearny Financial in a research report on Monday, April 27th. They set an “overweight” rating and a $9.50 target price for the company. Finally, Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Kearny Financial currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Get Our Latest Report on KRNY

Institutional Trading of Kearny Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in Kearny Financial by 103.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after acquiring an additional 1,753 shares during the period. Osaic Holdings Inc. increased its stake in Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after acquiring an additional 1,605 shares during the period. Parallel Advisors LLC increased its stake in Kearny Financial by 119.5% in the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after acquiring an additional 3,946 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Kearny Financial by 59.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock valued at $64,000 after acquiring an additional 3,200 shares during the period. Institutional investors own 71.01% of the company’s stock.

Kearny Financial Company Profile

(Get Free Report)

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.

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