Insider Buying: Kearny Financial Corp. (NASDAQ:KRNY) Director Purchases 5,000 Shares of Stock

Kearny Financial Corp. (NASDAQ:KRNY - Get Free Report) Director Melvina Wong-Zaza bought 5,000 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased 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 of the company's stock, valued at $199,078.05. This trade represents a 22.19 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Kearny Financial Price Performance

Shares of KRNY stock traded up $0.04 during trading on Thursday, hitting $7.24. The company had a trading volume of 96,936 shares, compared to its average volume of 324,972. The stock's 50-day moving average price is $7.31 and its 200 day moving average price is $7.14. Kearny Financial Corp. has a one year low of $5.28 and a one year high of $8.59. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $467.24 million, a P/E ratio of -6.40 and a beta of 0.81.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Wednesday, February 12th. Kearny Financial's dividend payout ratio is currently -38.94%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KRNY shares. StockNews.com upgraded Kearny Financial from a "sell" rating to a "hold" rating in a research report on Monday, October 28th. Piper Sandler upgraded shares of Kearny Financial from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $9.00 to $8.50 in a research note on Monday, January 6th.

Hedge Funds Weigh In On Kearny Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. increased its stake in Kearny Financial by 302.1% in the fourth quarter. Invesco Ltd. now owns 876,004 shares of the savings and loans company's stock valued at $6,202,000 after acquiring an additional 658,150 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Kearny Financial by 144.1% in the 2nd 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 in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Kearny Financial by 79.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 564,572 shares of the savings and loans company's stock valued at $3,879,000 after purchasing an additional 249,437 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Kearny Financial by 161.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 239,689 shares of the savings and loans company's stock worth $1,647,000 after buying an additional 147,892 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Kearny Financial by 26.1% during the 3rd quarter. Barclays PLC now owns 428,421 shares of the savings and loans company's stock worth $2,944,000 after buying an additional 88,771 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.