Kearny Financial (NASDAQ:KRNY) Announces Earnings Results

Key Points

• Kearny Financial reported quarterly earnings of $0.15 per share, matching analysts' expectations, with a net margin of 7.59% and a return on equity of 3.49%.
• Following trading on Thursday, Kearny Financial's stock price fell by $0.20, closing at $6.53, with a market capitalization of $422.49 million.
• Insider trading activity included Director Leopold W. Montanaro purchasing 10,000 shares at an average price of $6.57 per share, indicating increased confidence in the company's stock.

Kearny Financial (NASDAQ:KRNY - Get Free Report) posted its quarterly earnings results on Thursday. The savings and loans company reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15, Zacks reports. Kearny Financial had a net margin of 7.59% and a return on equity of 3.49%.

Kearny Financial Price Performance

NASDAQ KRNY traded down $0.20 on Thursday, hitting $6.53. 115,658 shares of the company were exchanged, compared to its average volume of 365,142. The firm has a 50 day moving average of $6.55 and a two-hundred day moving average of $6.34. The company has a market cap of $422.49 million, a P/E ratio of 15.54 and a beta of 0.75. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. Kearny Financial has a 1-year low of $5.45 and a 1-year high of $8.59.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Kearny Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.75.

Insider Transactions at Kearny Financial

In related news, Director Leopold W. Montanaro purchased 10,000 shares of Kearny Financial stock in a transaction that occurred on Friday, September 19th. The shares were acquired at an average price of $6.57 per share, for a total transaction of $65,700.00. Following the transaction, the director directly owned 265,227 shares in the company, valued at approximately $1,742,541.39. This represents a 3.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its holdings in Kearny Financial by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company's stock worth $276,000 after purchasing an additional 1,668 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Kearny Financial by 4.1% during the 2nd quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company's stock worth $305,000 after purchasing an additional 1,865 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Kearny Financial by 11.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,825 shares of the savings and loans company's stock worth $147,000 after purchasing an additional 2,383 shares during the last quarter. Sei Investments Co. raised its holdings in Kearny Financial by 6.4% during the 2nd quarter. Sei Investments Co. now owns 51,600 shares of the savings and loans company's stock worth $333,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Kearny Financial by 11,688.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company's stock worth $27,000 after purchasing an additional 4,091 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

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.

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