Swiss National Bank lessened its stake in Kearny Financial Corp. (NASDAQ:KRNY) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 159,664 shares of the savings and loans company’s stock after selling 1,700 shares during the period. Swiss National Bank owned about 0.19% of Kearny Financial worth $2,208,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in shares of Kearny Financial by 3.9% during the third quarter. Russell Investments Group Ltd. now owns 1,719,860 shares of the savings and loans company’s stock worth $22,429,000 after purchasing an additional 64,445 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Kearny Financial by 11.6% in the fourth quarter. California Public Employees Retirement System now owns 192,409 shares of the savings and loans company’s stock valued at $2,661,000 after purchasing an additional 19,986 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Kearny Financial by 2.9% in the fourth quarter. Rhumbline Advisers now owns 136,682 shares of the savings and loans company’s stock valued at $1,890,000 after purchasing an additional 3,797 shares in the last quarter. First Trust Advisors LP grew its position in Kearny Financial by 15.7% in the fourth quarter. First Trust Advisors LP now owns 124,707 shares of the savings and loans company’s stock valued at $1,725,000 after acquiring an additional 16,917 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Kearny Financial in the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 65.04% of the company’s stock.
A number of research analysts have weighed in on KRNY shares. BidaskClub downgraded Kearny Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 5th. TheStreet downgraded Kearny Financial from a “b” rating to a “c+” rating in a research note on Friday, January 31st. Finally, Piper Sandler downgraded Kearny Financial from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $15.50 to $14.00 in a research note on Friday, January 31st.
KRNY stock traded down $0.13 during midday trading on Wednesday, reaching $10.81. 80,661 shares of the stock were exchanged, compared to its average volume of 310,058. The stock has a market capitalization of $955.02 million, a PE ratio of 22.06 and a beta of 0.50. Kearny Financial Corp. has a 52 week low of $10.50 and a 52 week high of $14.40. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 1.08. The company has a fifty day moving average price of $12.34 and a 200 day moving average price of $13.21.
Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. The firm had revenue of $39.16 million for the quarter. Kearny Financial had a return on equity of 3.91% and a net margin of 16.78%.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, March 3rd. This is a positive change from Kearny Financial’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.96%. Kearny Financial’s dividend payout ratio is currently 59.57%.
About Kearny Financial
Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.
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