Kearny Financial (NASDAQ:KRNY – Get Free Report) Director Melvina Wong-Zaza bought 3,500 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $8.57 per share, with a total value of $29,995.00. Following the acquisition, the director directly owned 33,910 shares in the company, valued at approximately $290,608.70. This trade represents a 11.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Kearny Financial Trading Up 0.9%
Shares of Kearny Financial stock traded up $0.08 during trading on Friday, hitting $8.74. 240,979 shares of the company were exchanged, compared to its average volume of 353,384. The firm has a market capitalization of $565.50 million, a P/E ratio of 15.32 and a beta of 0.66. Kearny Financial has a 1-year low of $5.76 and a 1-year high of $8.78. The firm’s fifty day moving average price is $8.08 and its 200 day moving average price is $7.79. 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 – Get Free Report) last posted its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. As a group, sell-side analysts expect that Kearny Financial will post 0.61 earnings per share for the current fiscal year.
Kearny Financial Announces Dividend
Hedge Funds Weigh In On Kearny Financial
Several institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. boosted its stake in Kearny Financial by 488.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock worth $11,952,000 after purchasing an additional 1,339,062 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Kearny Financial by 373.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 918,125 shares of the savings and loans company’s stock worth $5,931,000 after purchasing an additional 724,297 shares during the period. AQR Capital Management LLC boosted its stake in Kearny Financial by 36.4% in the 4th quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock worth $14,993,000 after purchasing an additional 539,811 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Kearny Financial during the 3rd quarter worth approximately $1,583,000. Finally, First Trust Advisors LP boosted its position in Kearny Financial by 402.0% during the 3rd quarter. First Trust Advisors LP now owns 214,681 shares of the savings and loans company’s stock worth $1,410,000 after acquiring an additional 171,916 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
KRNY has been the subject of several research analyst reports. Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Piper Sandler initiated coverage on shares of Kearny Financial in a report on Monday, April 27th. They issued an “overweight” rating and a $9.50 price target for the company. Finally, Zacks Research raised shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.
Check Out Our Latest Report on KRNY
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.
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