Hotchkis & Wiley Capital Management LLC Acquires 255,460 Shares of Kearny Financial $KRNY

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Kearny Financial (NASDAQ:KRNY) by 25% in the first quarter, now owning 1,278,390 shares valued at approximately $8 million.
• Kearny Financial recently announced a quarterly dividend of $0.11 per share, resulting in a 6.8% dividend yield, although its payout ratio is relatively high at 104.76%.
• Analysts have lowered the target price for Kearny Financial from $7.25 to $7.00, with a consensus rating of "Moderate Buy" and an average target price of $7.75.

Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Kearny Financial (NASDAQ:KRNY - Free Report) by 25.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,278,390 shares of the savings and loans company's stock after acquiring an additional 255,460 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 1.98% of Kearny Financial worth $8,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Kearny Financial by 20.8% in the fourth quarter. Wells Fargo & Company MN now owns 37,817 shares of the savings and loans company's stock worth $268,000 after buying an additional 6,501 shares during the period. Legal & General Group Plc lifted its holdings in Kearny Financial by 15.1% during the fourth quarter. Legal & General Group Plc now owns 59,067 shares of the savings and loans company's stock valued at $418,000 after purchasing an additional 7,730 shares in the last quarter. Barclays PLC increased its stake in shares of Kearny Financial by 6.9% in the fourth quarter. Barclays PLC now owns 458,121 shares of the savings and loans company's stock worth $3,243,000 after purchasing an additional 29,700 shares in the last quarter. Mariner LLC bought a new stake in shares of Kearny Financial during the 4th quarter valued at $82,000. Finally, First Trust Advisors LP lifted its stake in shares of Kearny Financial by 6.8% during the 4th quarter. First Trust Advisors LP now owns 41,710 shares of the savings and loans company's stock valued at $295,000 after buying an additional 2,640 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Kearny Financial Price Performance

NASDAQ:KRNY traded down $0.03 on Thursday, reaching $6.58. 286,675 shares of the company's stock traded hands, compared to its average volume of 354,270. The firm has a market cap of $426.06 million, a PE ratio of 15.67 and a beta of 0.73. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.71. The stock has a 50-day simple moving average of $6.33 and a 200-day simple moving average of $6.34. Kearny Financial has a 12 month low of $5.45 and a 12 month high of $8.59.

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

Kearny Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, 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 6.7%. The ex-dividend date was Tuesday, August 12th. Kearny Financial's dividend payout ratio is currently 104.76%.

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.