Kearny Financial Corp. (NASDAQ:KRNY) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Kearny Financial Corp. (NASDAQ:KRNY - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 334,205 shares of the savings and loans company's stock after selling 64,387 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.52% of Kearny Financial worth $2,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ieq Capital LLC purchased a new stake in shares of Kearny Financial during the fourth quarter valued at about $73,000. Empowered Funds LLC boosted its stake in Kearny Financial by 5.0% in the fourth quarter. Empowered Funds LLC now owns 166,738 shares of the savings and loans company's stock valued at $1,181,000 after acquiring an additional 7,983 shares in the last quarter. Optas LLC purchased a new position in Kearny Financial in the fourth quarter worth $87,000. SG Americas Securities LLC lifted its holdings in shares of Kearny Financial by 27.8% during the 4th quarter. SG Americas Securities LLC now owns 52,275 shares of the savings and loans company's stock valued at $370,000 after purchasing an additional 11,373 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Kearny Financial by 161.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 239,689 shares of the savings and loans company's stock worth $1,647,000 after purchasing an additional 147,892 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Melvina Wong-Zaza acquired 5,000 shares of the business's stock in a transaction on Friday, February 7th. The stock was bought 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 in the company, valued at approximately $199,078.05. This represents a 22.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.56% of the stock is currently owned by insiders.

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Kearny Financial Stock Performance

Shares of NASDAQ:KRNY traded down $0.07 during trading on Tuesday, hitting $6.45. The stock had a trading volume of 247,700 shares, compared to its average volume of 380,536. Kearny Financial Corp. has a 12-month low of $5.28 and a 12-month 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 stock has a market capitalization of $416.54 million, a price-to-earnings ratio of -5.71 and a beta of 0.77. The stock has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $7.17.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced 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 negative net margin of 20.05% and a positive return on equity of 3.31%.

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.44 annualized dividend and a dividend yield of 6.82%. Kearny Financial's dividend payout ratio is presently -38.94%.

Analysts Set New Price Targets

Separately, Piper Sandler upgraded 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.

Kearny Financial Company 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.