Grace & White Inc. NY Sells 45,802 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Grace & White Inc. NY reduced its stake in Kearny Financial Corp. (NASDAQ:KRNY) by 44.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,317 shares of the savings and loans company’s stock after selling 45,802 shares during the period. Grace & White Inc. NY owned approximately 0.09% of Kearny Financial worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its position in Kearny Financial by 79.2% in the third 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 acquiring an additional 249,437 shares during the period. Barclays PLC grew its holdings in shares of Kearny Financial by 26.1% in the 3rd quarter. Barclays PLC now owns 428,421 shares of the savings and loans company’s stock worth $2,944,000 after purchasing an additional 88,771 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 purchasing an additional 147,892 shares in the last quarter. Creative Planning increased its position in shares of Kearny Financial by 46.1% during the 3rd quarter. Creative Planning now owns 191,969 shares of the savings and loans company’s stock worth $1,319,000 after purchasing an additional 60,541 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Kearny Financial by 5.0% during the 4th quarter. Empowered Funds LLC now owns 166,738 shares of the savings and loans company’s stock valued at $1,181,000 after purchasing an additional 7,983 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KRNY. StockNews.com raised shares of Kearny Financial from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Piper Sandler raised Kearny Financial from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $9.00 to $8.50 in a report on Monday, January 6th.

Kearny Financial Stock Performance

Shares of NASDAQ KRNY opened at $7.20 on Thursday. 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 12-month low of $5.28 and a 12-month high of $8.59. The firm’s 50-day simple moving average is $7.31 and its 200 day simple moving average is $7.14.

Kearny Financial (NASDAQ:KRNY) last released its quarterly 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 negative net margin of 20.05% and a positive return on equity of 3.27%.

Kearny Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.44 annualized dividend and a dividend yield of 6.11%. Kearny Financial’s dividend payout ratio (DPR) is currently -38.94%.

Insider Transactions at Kearny Financial

In other news, Director Melvina Wong-Zaza acquired 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 27,535 shares in the company, valued at $199,078.05. This trade represents a 22.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.56% of the stock is currently owned by corporate insiders.

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.