Renaissance Technologies LLC Sells 284,000 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Renaissance Technologies LLC trimmed its stake in shares of Kearny Financial Corp. (NASDAQ:KRNY - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,951,686 shares of the savings and loans company's stock after selling 284,000 shares during the period. Renaissance Technologies LLC owned about 4.57% of Kearny Financial worth $20,898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC boosted its position in Kearny Financial by 40.4% during the 3rd quarter. FMR LLC now owns 8,495 shares of the savings and loans company's stock worth $58,000 after acquiring an additional 2,445 shares during the period. Ieq Capital LLC purchased a new stake in shares of Kearny Financial in the fourth quarter worth approximately $73,000. Optas LLC acquired a new stake in shares of Kearny Financial during the fourth quarter worth approximately $87,000. Quantbot Technologies LP increased its stake in 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 valued at $91,000 after buying an additional 1,476 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Kearny Financial in the 4th quarter worth approximately $94,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Insiders Place Their Bets

In related news, Director Melvina Wong-Zaza purchased 5,000 shares of the stock in a transaction 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 completion of the acquisition, the director now directly owns 27,535 shares in the company, valued at approximately $199,078.05. This trade represents a 22.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.56% of the company's stock.

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Kearny Financial Stock Up 1.4 %

Shares of NASDAQ KRNY traded up $0.08 during trading hours on Tuesday, hitting $5.82. The stock had a trading volume of 304,163 shares, compared to its average volume of 385,336. The company has a market capitalization of $375.86 million, a P/E ratio of -5.15 and a beta of 0.70. The firm's 50-day moving average price is $6.50 and its two-hundred day moving average price is $7.08. 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 Corp. has a 52 week low of $5.28 and a 52 week high of $8.59.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last posted its earnings results on Thursday, January 30th. The savings and loans company reported $0.10 EPS 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.44 annualized dividend and a yield of 7.56%. Kearny Financial's dividend payout ratio (DPR) is currently -38.94%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised shares of Kearny Financial from a "neutral" rating to an "overweight" rating and dropped their price target 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.