DekaBank Deutsche Girozentrale Acquires New Position in Kearny Financial Corp. (NASDAQ:KRNY)

DekaBank Deutsche Girozentrale bought a new position in shares of Kearny Financial Corp. (NASDAQ:KRNY) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 21,713 shares of the savings and loans company’s stock, valued at approximately $133,000.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of Kearny Financial by 44.9% during the fourth quarter. Quadrant Capital Group LLC now owns 5,199 shares of the savings and loans company’s stock worth $47,000 after purchasing an additional 1,612 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Kearny Financial by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 70,851 shares of the savings and loans company’s stock valued at $457,000 after purchasing an additional 5,272 shares during the period. American Century Companies Inc. increased its position in Kearny Financial by 2.7% in the second quarter. American Century Companies Inc. now owns 391,352 shares of the savings and loans company’s stock worth $2,407,000 after buying an additional 10,220 shares during the period. Empowered Funds LLC lifted its stake in Kearny Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 148,057 shares of the savings and loans company’s stock valued at $953,000 after buying an additional 11,190 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Kearny Financial by 91.3% during the first quarter. BNP Paribas Financial Markets now owns 27,598 shares of the savings and loans company’s stock valued at $178,000 after acquiring an additional 13,171 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Kearny Financial Stock Performance

Shares of KRNY stock opened at $6.96 on Friday. Kearny Financial Corp. has a 12-month low of $5.28 and a 12-month high of $9.46. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $448.48 million, a price-to-earnings ratio of 27.84 and a beta of 0.77. The business has a 50 day simple moving average of $6.67 and a 200 day simple moving average of $6.13.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings results on Thursday, July 25th. The savings and loans company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The business had revenue of $39.08 million for the quarter, compared to analyst estimates of $39.00 million. Kearny Financial had a negative net margin of 26.51% and a positive return on equity of 3.41%.

Kearny Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 12th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend was Monday, August 12th. Kearny Financial’s dividend payout ratio is currently 176.00%.

Insider Activity

In related news, EVP Thomas Demedici sold 6,304 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $6.00, for a total transaction of $37,824.00. Following the sale, the executive vice president now owns 70,614 shares of the company’s stock, valued at $423,684. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.22% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Kearny Financial from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

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.