T. Rowe Price Investment Management Inc. Has $20.14 Million Stock Position in Kearny Financial Corp. (NASDAQ:KRNY)

T. Rowe Price Investment Management Inc. lessened its holdings in shares of Kearny Financial Corp. (NASDAQ:KRNY - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,844,028 shares of the savings and loans company's stock after selling 1,023,114 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 4.40% of Kearny Financial worth $20,136,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hsbc Holdings PLC increased its holdings in shares of Kearny Financial by 14.1% during the 4th quarter. Hsbc Holdings PLC now owns 54,031 shares of the savings and loans company's stock worth $379,000 after acquiring an additional 6,664 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Kearny Financial by 49.6% in the fourth quarter. MetLife Investment Management LLC now owns 33,308 shares of the savings and loans company's stock valued at $236,000 after purchasing an additional 11,042 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kearny Financial by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,582,275 shares of the savings and loans company's stock valued at $25,362,000 after purchasing an additional 18,710 shares during the period. 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 worth $295,000 after buying an additional 2,640 shares during the last quarter. Finally, Fourthstone LLC boosted its holdings in shares of Kearny Financial by 439.2% during the 4th quarter. Fourthstone LLC now owns 377,431 shares of the savings and loans company's stock worth $2,672,000 after buying an additional 307,431 shares during the period. Institutional investors own 71.01% of the company's stock.

Insiders Place Their Bets

In other news, Director Melvina Wong-Zaza bought 5,000 shares of the company's stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $7.23 per share, for a total transaction of $36,150.00. Following the transaction, the director now owns 27,535 shares of the company's stock, valued at $199,078.05. This represents a 22.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.56% of the company's stock.

Analyst Ratings Changes

KRNY has been the topic of several research analyst reports. Piper Sandler raised shares of Kearny Financial from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $9.00 to $8.50 in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered their target price on Kearny Financial from $7.25 to $7.00 and set a "market perform" rating on the stock in a research note on Tuesday.

Kearny Financial Stock Performance

Shares of KRNY traded down $0.04 during mid-day trading on Wednesday, hitting $6.26. 274,894 shares of the company's stock were exchanged, compared to its average volume of 382,115. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.69. Kearny Financial Corp. has a 52 week low of $5.28 and a 52 week high of $8.59. The stock's 50-day simple moving average is $6.28 and its 200-day simple moving average is $7.04. The firm has a market cap of $404.27 million, a price-to-earnings ratio of -5.54 and a beta of 0.70.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.11 EPS for the quarter, hitting analysts' consensus estimates of $0.11. The firm had revenue of $38.60 million for the quarter, compared to analyst estimates of $38.71 million. Kearny Financial had a positive return on equity of 3.31% and a negative net margin of 20.05%.

Kearny Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.44 annualized dividend and a yield of 7.03%. Kearny Financial's dividend payout ratio is -38.60%.

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.