Rhumbline Advisers Trims Stake in Kearny Financial Corp. (NASDAQ:KRNY)

Rhumbline Advisers lessened its holdings in Kearny Financial Corp. (NASDAQ:KRNY) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,147 shares of the savings and loans company’s stock after selling 2,105 shares during the period. Rhumbline Advisers owned approximately 0.15% of Kearny Financial worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. CWM LLC increased its holdings in Kearny Financial by 1,798.6% in the 2nd quarter. CWM LLC now owns 20,106 shares of the savings and loans company’s stock valued at $124,000 after purchasing an additional 19,047 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Kearny Financial by 91.3% in 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 buying an additional 13,171 shares in the last quarter. Caxton Associates LP raised its holdings in shares of Kearny Financial by 79.0% in the 1st quarter. Caxton Associates LP now owns 43,687 shares of the savings and loans company’s stock valued at $281,000 after buying an additional 19,277 shares during the period. Price T Rowe Associates Inc. MD lifted its stake 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 worth $457,000 after acquiring an additional 5,272 shares in the last quarter. Finally, Inspire Advisors LLC boosted its holdings in Kearny Financial by 15.9% during the 1st quarter. Inspire Advisors LLC now owns 139,025 shares of the savings and loans company’s stock valued at $895,000 after acquiring an additional 19,092 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Thomas Demedici sold 6,304 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $6.00, for a total value of $37,824.00. Following the sale, the executive vice president now directly owns 70,614 shares in the company, valued at approximately $423,684. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kearny Financial Stock Performance

Shares of KRNY stock opened at $6.80 on Thursday. The firm has a 50 day moving average of $6.68 and a two-hundred day moving average of $6.14. The stock has a market capitalization of $438.17 million, a PE ratio of 27.20 and a beta of 0.77. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.27. Kearny Financial Corp. has a 52 week low of $5.28 and a 52 week high of $9.46.

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

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 12th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date was Monday, August 12th. Kearny Financial’s dividend payout ratio is presently 176.00%.

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.