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

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

Kearny Financial Price Performance

Shares of KRNY traded up $0.33 during trading hours on Monday, hitting $7.53. 198,458 shares of the company were exchanged, compared to its average volume of 320,067. The company has a market cap of $485.96 million, a price-to-earnings ratio of -6.69 and a beta of 0.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.99. Kearny Financial Corp. has a fifty-two week low of $5.28 and a fifty-two week high of $8.59. The firm’s fifty day moving average is $7.35 and its 200 day moving average is $7.14.

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

Kearny Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.85%. The ex-dividend date is Wednesday, February 12th. Kearny Financial’s dividend payout ratio (DPR) is presently -38.94%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Kearny Financial by 40.4% during the 3rd quarter. FMR LLC now owns 8,495 shares of the savings and loans company’s stock valued at $58,000 after purchasing an additional 2,445 shares during the last quarter. Signaturefd LLC lifted its stake in Kearny Financial by 40.9% in the 3rd quarter. Signaturefd LLC now owns 8,813 shares of the savings and loans company’s stock valued at $61,000 after purchasing an additional 2,560 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Kearny Financial in the third quarter valued at approximately $61,000. Ieq Capital LLC acquired a new position in shares of Kearny Financial during the fourth quarter worth $73,000. Finally, Quantbot Technologies LP increased its holdings in shares of Kearny Financial by 464.0% during the third quarter. Quantbot Technologies LP now owns 11,308 shares of the savings and loans company’s stock worth $78,000 after buying an additional 9,303 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

KRNY has been the topic of a number of recent research reports. Piper Sandler raised shares of Kearny Financial from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $9.00 to $8.50 in a research report on Monday, January 6th. StockNews.com raised shares of Kearny Financial from a “sell” rating to a “hold” rating in a report on Monday, October 28th.

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.