AlphaQuest LLC Takes Position in Kearny Financial Corp. (NASDAQ:KRNY)

AlphaQuest LLC bought a new position in shares of Kearny Financial Corp. (NASDAQ:KRNY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 64,728 shares of the savings and loans company’s stock, valued at approximately $458,000. AlphaQuest LLC owned 0.10% of Kearny Financial at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Kearny Financial by 40.4% during the third quarter. FMR LLC now owns 8,495 shares of the savings and loans company’s stock valued at $58,000 after acquiring an additional 2,445 shares during the period. Point72 DIFC Ltd bought a new stake in Kearny Financial during the 3rd quarter valued at approximately $61,000. Ieq Capital LLC purchased a new position in Kearny Financial in the 4th quarter worth approximately $73,000. Quantbot Technologies LP boosted its stake in Kearny Financial by 464.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,308 shares of the savings and loans company’s stock worth $78,000 after purchasing an additional 9,303 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Kearny Financial during the 3rd quarter valued at approximately $86,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity at Kearny Financial

In related news, Director Melvina Wong-Zaza acquired 5,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were acquired at an average cost of $7.23 per share, for a total transaction of $36,150.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised shares of Kearny Financial from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $9.00 to $8.50 in a report on Monday, January 6th.

Kearny Financial Price Performance

Shares of Kearny Financial stock opened at $6.21 on Friday. The firm has a market cap of $401.04 million, a PE ratio of -5.50 and a beta of 0.77. The stock has a 50 day moving average of $6.98 and a 200 day moving average of $7.19. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.69. 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 earnings results on Thursday, January 30th. The savings and loans company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Kearny Financial had a negative net margin of 20.05% and a positive return on equity of 3.31%.

Kearny Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend was Wednesday, February 12th. Kearny Financial’s dividend payout ratio is -38.94%.

Kearny Financial 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.