Kearny Financial (NASDAQ:KRNY – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $8.91 and last traded at $8.8450, with a volume of 68579 shares trading hands. The stock had previously closed at $8.81.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on KRNY. Piper Sandler boosted their price target on Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research note on Thursday. Weiss Ratings lowered shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. One 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 stock currently has a consensus rating of “Hold” and an average target price of $10.50.
Get Our Latest Stock Report on KRNY
Kearny Financial Stock Performance
Kearny Financial (NASDAQ:KRNY – Get Free Report) last released its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%.The firm had revenue of $44.31 million during the quarter, compared to the consensus estimate of $43.67 million. Research analysts expect that Kearny Financial will post 0.61 EPS for the current fiscal year.
Kearny Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s dividend payout ratio is 77.19%.
Insiders Place Their Bets
In other Kearny Financial news, Director Melvina Wong-Zaza purchased 3,500 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $8.57 per share, with a total value of $29,995.00. Following the completion of the acquisition, the director owned 33,910 shares in the company, valued at $290,608.70. This trade represents a 11.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Curtland E. Fields purchased 3,600 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were bought 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 in the company, valued at $363,312. This trade represents a 9.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 24,800 shares of company stock worth $211,196 in the last quarter. Company insiders own 7.44% of the company’s stock.
Institutional Trading of Kearny Financial
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings 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. grew its stake in shares of Kearny Financial by 11,688.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co grew its stake 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 purchasing an additional 1,605 shares during the period. Parallel Advisors LLC increased its holdings in shares of Kearny Financial by 119.5% during the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after purchasing an additional 3,946 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Kearny Financial by 59.4% in the 4th 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 purchasing an additional 3,200 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.
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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