Insider Buying: Kearny Financial Corp. (NASDAQ:KRNY) Director Acquires $36,150.00 in Stock

Kearny Financial Corp. (NASDAQ:KRNY) Director Melvina Wong-Zaza acquired 5,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $7.23 per share, with a total value of $36,150.00. Following the completion of the transaction, the director now owns 27,535 shares of the company’s stock, valued at approximately $199,078.05. The trade was a 22.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Kearny Financial Price Performance

Shares of NASDAQ KRNY opened at $7.20 on Thursday. The business’s 50 day moving average is $7.31 and its 200-day moving average is $7.14. The firm has a market cap of $464.98 million, a P/E ratio of -6.37 and a beta of 0.81. Kearny Financial Corp. has a 1-year low of $5.28 and a 1-year high of $8.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.99.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share (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 3.27%.

Kearny Financial Announces Dividend

The business also recently declared 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 dividend yield of 6.11%. The ex-dividend date is Wednesday, February 12th. Kearny Financial’s dividend payout ratio (DPR) is currently -38.94%.

Hedge Funds Weigh In On Kearny Financial

A number of hedge funds have recently added to or reduced their stakes in KRNY. Marshall Wace LLP acquired a new stake in shares of Kearny Financial during the 2nd quarter worth $183,000. Millennium Management LLC grew its stake in Kearny Financial by 144.1% during the second quarter. Millennium Management LLC now owns 798,200 shares of the savings and loans company’s stock worth $4,909,000 after buying an additional 471,155 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Kearny Financial by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,015 shares of the savings and loans company’s stock valued at $142,000 after buying an additional 1,911 shares during the period. SG Americas Securities LLC raised its position in shares of Kearny Financial by 44.7% in the 3rd quarter. SG Americas Securities LLC now owns 40,902 shares of the savings and loans company’s stock valued at $281,000 after buying an additional 12,630 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Kearny Financial by 93.4% during the 3rd quarter. CWM LLC now owns 38,877 shares of the savings and loans company’s stock worth $267,000 after acquiring an additional 18,771 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on KRNY. Piper Sandler raised Kearny Financial from a “neutral” rating to an “overweight” rating and cut their price target for the company from $9.00 to $8.50 in a 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.

About Kearny Financial

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.