Massachusetts Financial Services Co. MA Sells 104,711 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Massachusetts Financial Services Co. MA lowered its position in Kearny Financial Corp. (NASDAQ:KRNY) by 58.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 73,094 shares of the savings and loans company’s stock after selling 104,711 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Kearny Financial were worth $502,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of KRNY. Point72 Asia Singapore Pte. Ltd. raised its stake in Kearny Financial by 53.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,367 shares of the savings and loans company’s stock worth $58,000 after buying an additional 3,249 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Kearny Financial by 40.9% in the 3rd quarter. Signaturefd LLC now owns 8,813 shares of the savings and loans company’s stock valued at $61,000 after purchasing an additional 2,560 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Kearny Financial during the 2nd quarter valued at about $65,000. Pallas Capital Advisors LLC acquired a new stake in Kearny Financial during the third quarter worth approximately $82,000. Finally, Intech Investment Management LLC bought a new stake in Kearny Financial in the third quarter worth approximately $86,000. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Kearny Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 28th.

Kearny Financial Price Performance

Shares of NASDAQ KRNY opened at $7.93 on Thursday. The firm has a market capitalization of $512.12 million, a P/E ratio of -5.59 and a beta of 0.76. The firm’s 50-day moving average price is $7.31 and its 200-day moving average price is $6.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.99. Kearny Financial Corp. has a 1-year low of $5.28 and a 1-year high of $9.46.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Kearny Financial had a positive return on equity of 3.05% and a negative net margin of 27.43%. The business had revenue of $87.88 million for the quarter, compared to the consensus estimate of $37.70 million. During the same period in the prior year, the business earned $0.16 EPS.

Kearny Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend was Wednesday, November 6th. Kearny Financial’s dividend payout ratio is currently -30.34%.

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.