Kearny Financial Inc (NASDAQ:KRNY) Sets New 52-Week Low After Analyst Downgrade

The share price of Kearny Financial Corp. (NASDAQ:KRNY – Get Rating) hit a fresh 52-week low in Thursday’s midday session after Piper Sandler lowered her price target on the stock to $12.00. The company traded as low as $10.59 and last traded at $10.64, with a volume of 8174 shares traded in hands. The stock previously closed at $10.83.

Insider Trading at Kearny Financial

In other news, Executive Vice President Thomas Demedici sold 2,500 shares in a trade on Tuesday August 2. The stock was sold at an average price of $12.01, for a total transaction of $30,025.00. Following the completion of the transaction, the executive vice president now owns 55,392 shares of the company, valued at approximately $665,257.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. 7.56% of the shares are held by company insiders.

Institutional entries and exits

Several large investors have recently increased or reduced their stake in the stock. Ancora Advisors LLC increased its equity stake in Kearny Financial by 900.0% in Q1. Ancora Advisors LLC now owns 656,009 shares of the savings and loan company valued at $7,925,000 after acquiring an additional 590,408 shares in the last quarter. Victory Capital Management Inc. increased its equity stake in Kearny Financial by 950.7% in Q1. Victory Capital Management Inc. now owns 434,195 shares of the savings and loan company valued at $5,150,000 after acquiring an additional 392,872 shares last quarter. Dimensional Fund Advisors LP increased its holdings of Kearny Financial shares by 1.7% in Q1. Dimensional Fund Advisors LP now owns 6,044,277 shares of the savings and loan company valued at $77,851,000 after acquiring an additional 101,930 shares in the last quarter. TD Asset Management Inc. purchased a new stake in shares of Kearny Financial in Q1 valued at approximately $1,165,000. Finally, Hussman Strategic Advisors Inc. purchased a new equity stake in Kearny Financial in Q1 valued at approximately $1,005,000. Institutional investors hold 64.85% of the company’s shares.

Kearny Financial trades down 1.8%

The company has a fifty-day simple moving average of $11.57 and a two-hundred-day simple moving average of $11.80. The stock has a market capitalization of $725.44 million, a PE ratio of 11.52 and a beta of 0.75. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt ratio of 1.03.

Kearny Financial (NASDAQ:KRNY – Get Rating) last reported quarterly earnings data on Thursday, July 28. The savings and loan company reported earnings per share of $0.18 for the quarter, missing analyst consensus estimates of $0.22 per ($0.04). The company posted revenue of $53.41 million for the quarter, compared to $51.60 million expected by analysts. Kearny Financial had a net margin of 28.12% and a return on equity of 7.21%.

Kearny Financial announces dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24. Investors of record on Wednesday August 10 received a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 9. This represents an annualized dividend of $0.44 and a yield of 4.14%. Kearny Financial’s payout ratio is 46.81%.

Kearny Financial Company Profile

(Get a rating)

Kearny Financial Corp. is the holding company of Kearny Bank which provides various banking products and services in the United States. The Company 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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