Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce Sells 2,500 Shares

Kearny Financial (NASDAQ:KRNY) EVP Patrick Joyce sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $8.46, for a total transaction of $21,150.00. Following the sale, the executive vice president directly owned 51,865 shares in the company, valued at $438,777.90. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Kearny Financial Price Performance

Kearny Financial stock traded up $0.17 during trading hours on Wednesday, hitting $8.63. 265,799 shares of the stock were exchanged, compared to its average volume of 351,303. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $558.38 million, a P/E ratio of 15.11 and a beta of 0.66. Kearny Financial has a 12 month low of $5.76 and a 12 month high of $8.67. The business’s 50-day moving average is $8.03 and its two-hundred day moving average is $7.76.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $44.31 million for the quarter, compared to analysts’ expectations of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. Equities research analysts expect that Kearny Financial will post 0.61 EPS for the current fiscal year.

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s dividend payout ratio is 77.19%.

Institutional Investors Weigh In On Kearny Financial

Several hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 1,753 shares in the last quarter. Osaic Holdings Inc. grew its position in Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after purchasing an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after purchasing an additional 1,605 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Kearny Financial by 119.5% in the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after acquiring an additional 3,946 shares during the period. Finally, New York State Common Retirement Fund grew its position 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 acquiring an additional 3,200 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KRNY. Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note 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 target price on the stock. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Kearny Financial presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Kearny Financial Company Profile

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.