Kearny Financial Corp. (NASDAQ:KRNY) Stock Position Lessened by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. reduced its stake in shares of Kearny Financial Corp. (NASDAQ:KRNY - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,844,028 shares of the savings and loans company's stock after selling 1,023,114 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 4.40% of Kearny Financial worth $20,136,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Ieq Capital LLC bought a new stake in shares of Kearny Financial during the 4th quarter worth about $73,000. Mariner LLC bought a new position in Kearny Financial during the 4th quarter valued at $82,000. Optas LLC acquired a new position in shares of Kearny Financial during the 4th quarter valued at $87,000. Quantbot Technologies LP raised its stake in shares of Kearny Financial by 13.1% in the 4th 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 in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Kearny Financial in the fourth quarter valued at $94,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Buying and Selling

In other Kearny Financial news, Director Melvina Wong-Zaza acquired 5,000 shares of the firm's stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $7.23 per share, for a total transaction of $36,150.00. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.56% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised Kearny Financial from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $9.00 to $8.50 in a report on Monday, January 6th.

Kearny Financial Trading Down 1.2 %

Kearny Financial stock opened at $6.37 on Friday. Kearny Financial Corp. has a 1 year low of $5.28 and a 1 year high of $8.59. The firm's 50 day moving average price is $6.31 and its two-hundred day moving average price is $7.05. The firm has a market cap of $411.37 million, a price-to-earnings ratio of -5.64 and a beta of 0.70. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.04 and a current ratio of 1.04.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its earnings results on Thursday, April 24th. The savings and loans company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $38.60 million during the quarter, compared to the consensus estimate of $38.71 million. Kearny Financial had a positive return on equity of 3.31% and a negative net margin of 20.05%.

Kearny Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.44 annualized dividend and a dividend yield of 6.91%. Kearny Financial's dividend payout ratio (DPR) is presently -38.60%.

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.

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