M&T Bank Corp Takes Position in Kearny Financial $KRNY

M&T Bank Corp purchased a new stake in shares of Kearny Financial (NASDAQ:KRNY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 154,499 shares of the savings and loans company's stock, valued at approximately $1,145,000. M&T Bank Corp owned approximately 0.24% of Kearny Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Osaic Holdings Inc. lifted its holdings in shares of Kearny Financial by 11,688.6% during the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company's stock valued at $27,000 after purchasing an additional 4,091 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Kearny Financial during the fourth quarter valued at $74,000. Focus Partners Wealth bought a new position in shares of Kearny Financial during the third quarter valued at $76,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Kearny Financial during the third quarter valued at $78,000. Finally, Man Group plc bought a new position in shares of Kearny Financial during the third quarter valued at $80,000. 71.01% of the stock is owned by institutional investors.

Kearny Financial Stock Down 0.4%

KRNY stock opened at $8.04 on Friday. Kearny Financial has a fifty-two week low of $5.76 and a fifty-two week high of $8.50. The business's 50-day moving average is $7.70 and its two-hundred day moving average is $7.44. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $520.50 million, a price-to-earnings ratio of 14.11 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. Kearny Financial had a return on equity of 4.62% and a net margin of 10.39%.The firm had revenue of $44.31 million for the quarter, compared to the consensus estimate of $43.67 million. As a group, analysts forecast that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.44 annualized dividend and a dividend yield of 5.5%. Kearny Financial's dividend payout ratio (DPR) is 77.19%.

Insider Activity at Kearny Financial

In other news, EVP Timothy A. Swansson sold 4,000 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.60, for a total value of $30,400.00. Following the transaction, the executive vice president owned 55,833 shares of the company's stock, valued at $424,330.80. This trade represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.44% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler assumed coverage on Kearny Financial in a report on Monday. They set an "overweight" rating and a $9.50 price target on the stock. Weiss Ratings raised Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 22nd. Finally, Zacks Research raised Kearny Financial to a "hold" rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Kearny Financial Profile

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company's core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.

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