Insider Buying: Kearny Financial Corp. (NASDAQ:KRNY) Director Acquires 5,000 Shares of Stock

Kearny Financial Corp. (NASDAQ:KRNY) Director Melvina Wong-Zaza acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $7.23 per share, with a total value of $36,150.00. Following the transaction, the director now directly owns 27,535 shares in the company, valued at $199,078.05. The trade was a 22.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Kearny Financial Trading Up 1.6 %

Kearny Financial stock opened at $7.55 on Wednesday. The business has a 50 day moving average price of $7.32 and a two-hundred day moving average price of $7.14. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.99. The stock has a market cap of $487.58 million, a price-to-earnings ratio of -6.68 and a beta of 0.81. Kearny Financial Corp. has a 12 month low of $5.28 and a 12 month high of $8.59.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Kearny Financial had a negative net margin of 20.05% and a positive return on equity of 3.27%.

Kearny Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.44 annualized dividend and a yield of 5.83%. Kearny Financial’s dividend payout ratio (DPR) is -38.94%.

Hedge Funds Weigh In On Kearny Financial

Several large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Kearny Financial in the 2nd quarter valued at approximately $183,000. Millennium Management LLC grew its stake in shares of Kearny Financial by 144.1% in the 2nd quarter. Millennium Management LLC now owns 798,200 shares of the savings and loans company’s stock valued at $4,909,000 after purchasing an additional 471,155 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Kearny Financial by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,015 shares of the savings and loans company’s stock valued at $142,000 after purchasing an additional 1,911 shares during the period. SG Americas Securities LLC grew its stake in shares of Kearny Financial by 44.7% in the 3rd quarter. SG Americas Securities LLC now owns 40,902 shares of the savings and loans company’s stock valued at $281,000 after purchasing an additional 12,630 shares during the period. Finally, CWM LLC grew its stake in shares of Kearny Financial by 93.4% in the 3rd quarter. CWM LLC now owns 38,877 shares of the savings and loans company’s stock valued at $267,000 after purchasing an additional 18,771 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KRNY shares. StockNews.com raised Kearny Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Piper Sandler raised Kearny Financial from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $9.00 to $8.50 in a research report on Monday, January 6th.

Kearny Financial Company Profile

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.