Massachusetts Financial Services Co. MA Sells 2,119 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Kearny Financial Corp. (NASDAQ:KRNY) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,975 shares of the savings and loans company’s stock after selling 2,119 shares during the period. Massachusetts Financial Services Co. MA owned 0.11% of Kearny Financial worth $503,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Quantbot Technologies LP raised its holdings in Kearny Financial by 13.1% in the fourth quarter. Quantbot Technologies LP now owns 12,784 shares of the savings and loans company’s stock worth $91,000 after buying an additional 1,476 shares during the last quarter. Franklin Resources Inc. raised its holdings in Kearny Financial by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 57,506 shares of the savings and loans company’s stock worth $404,000 after acquiring an additional 1,576 shares during the last quarter. FMR LLC lifted its position in Kearny Financial by 40.4% in the 3rd 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 in the last quarter. Empowered Funds LLC boosted its stake in Kearny Financial by 5.0% during the 4th quarter. Empowered Funds LLC now owns 166,738 shares of the savings and loans company’s stock valued at $1,181,000 after purchasing an additional 7,983 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Kearny Financial by 2.3% in the 4th quarter. American Century Companies Inc. now owns 407,861 shares of the savings and loans company’s stock worth $2,888,000 after purchasing an additional 9,255 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Kearny Financial Price Performance

NASDAQ KRNY opened at $6.02 on Thursday. The company has a 50-day moving average price of $6.60 and a 200-day moving average price of $7.11. Kearny Financial Corp. has a 52 week low of $5.28 and a 52 week high of $8.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $388.77 million, a P/E ratio of -5.33 and a beta of 0.70.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Kearny Financial had a positive return on equity of 3.31% and a negative net margin of 20.05%.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.31%. Kearny Financial’s dividend payout ratio (DPR) is presently -38.94%.

Insider Buying and Selling

In other news, Director Melvina Wong-Zaza bought 5,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $7.23 per share, for a total transaction of $36,150.00. Following the purchase, the director now owns 27,535 shares in the company, valued at $199,078.05. This represents a 22.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 8.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.