Pinnacle Holdings LLC Takes Position in Kearny Financial $KRNY

Key Points

• Pinnacle Holdings LLC purchased 99,180 shares of Kearny Financial, valued at approximately $621,000, marking a new position for the firm in the 1st quarter.
• Kearny Financial reported earnings of $0.11 per share, missing analysts' expectations, and had a revenue of $40.83 million, falling short of the anticipated $41.16 million.
• The company announced a quarterly dividend of $0.11, which is set to yield 7.3%, although its current payout ratio is over 100%, at 104.76%.

Pinnacle Holdings LLC bought a new stake in Kearny Financial (NASDAQ:KRNY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 99,180 shares of the savings and loans company's stock, valued at approximately $621,000. Pinnacle Holdings LLC owned 0.15% of Kearny Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KRNY. Quarry LP acquired a new stake in Kearny Financial in the fourth quarter valued at $28,000. GAMMA Investing LLC grew its holdings in shares of Kearny Financial by 119.6% in the 1st quarter. GAMMA Investing LLC now owns 6,355 shares of the savings and loans company's stock worth $40,000 after acquiring an additional 3,461 shares during the period. Entropy Technologies LP acquired a new stake in shares of Kearny Financial in the 1st quarter worth approximately $68,000. TIAA Trust National Association acquired a new stake in shares of Kearny Financial in the 1st quarter worth approximately $78,000. Finally, Mariner LLC acquired a new stake in shares of Kearny Financial in the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their price target on Kearny Financial from $7.25 to $7.00 and set a "market perform" rating for the company in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Kearny Financial has a consensus rating of "Moderate Buy" and a consensus target price of $7.75.

Kearny Financial Price Performance

KRNY stock traded down $0.0550 during trading on Thursday, hitting $6.0350. The stock had a trading volume of 57,915 shares, compared to its average volume of 350,663. The company's 50 day moving average price is $6.30 and its two-hundred day moving average price is $6.36. Kearny Financial has a 1-year low of $5.45 and a 1-year high of $8.59. The stock has a market cap of $389.74 million, a price-to-earnings ratio of 14.37 and a beta of 0.73. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.04 and a current ratio of 1.04.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its earnings results on Thursday, July 24th. The savings and loans company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Kearny Financial had a net margin of 7.59% and a return on equity of 3.49%. The firm had revenue of $40.83 million during the quarter, compared to analyst estimates of $41.16 million.

Kearny Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.44 annualized dividend and a yield of 7.3%. Kearny Financial's payout ratio is presently 104.76%.

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.