Kearny Financial Corp. (NASDAQ:KRNY) Director Melvina Wong-Zaza Acquires 5,000 Shares

Kearny Financial Corp. (NASDAQ:KRNY) Director Melvina Wong-Zaza acquired 5,000 shares of Kearny Financial stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $7.23 per share, for a total transaction of $36,150.00. Following the purchase, the director now owns 27,535 shares of the company’s stock, valued at $199,078.05. The trade was a 22.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Kearny Financial Stock Performance

Shares of Kearny Financial stock opened at $7.43 on Tuesday. The business has a 50-day moving average price of $7.33 and a two-hundred day moving average price of $7.14. 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. The company has a market cap of $479.83 million, a P/E ratio of -6.58 and a beta of 0.81.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.92%. Kearny Financial’s payout ratio is presently -38.94%.

Institutional Investors Weigh In On Kearny Financial

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of 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 valued at $4,909,000 after purchasing an additional 471,155 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Kearny Financial by 79.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 564,572 shares of the savings and loans company’s stock worth $3,879,000 after buying an additional 249,437 shares during the period. JPMorgan Chase & Co. boosted its holdings in Kearny Financial by 161.1% in the third quarter. JPMorgan Chase & Co. now owns 239,689 shares of the savings and loans company’s stock worth $1,647,000 after acquiring an additional 147,892 shares in the last quarter. Barclays PLC grew its stake in Kearny Financial by 26.1% in the third quarter. Barclays PLC now owns 428,421 shares of the savings and loans company’s stock valued at $2,944,000 after acquiring an additional 88,771 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Kearny Financial by 345.9% during the third quarter. BNP Paribas Financial Markets now owns 104,772 shares of the savings and loans company’s stock valued at $720,000 after acquiring an additional 81,274 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.