Kearny Financial (NASDAQ:KRNY) Director Leopold Montanaro Acquires 10,000 Shares

Key Points

• Leopold Montanaro, a director at Kearny Financial, acquired 10,000 shares at $6.57 each, increasing his total holdings to 265,227 shares valued at approximately $1.74 million.
• Kearny Financial reported earnings of $0.11 per share for the last quarter, missing analysts' expectations of $0.13, with a revenue of $40.83 million compared to a forecast of $41.16 million.
• The firm recently declared a quarterly dividend of $0.11 per share, yielding 6.7%, although the dividend payout ratio is unusually high at 104.76%.

Kearny Financial (NASDAQ:KRNY - Get Free Report) Director Leopold Montanaro purchased 10,000 shares of the firm's stock in a transaction on Friday, September 19th. The shares were acquired at an average cost of $6.57 per share, for a total transaction of $65,700.00. Following the completion of the purchase, the director directly owned 265,227 shares of the company's stock, valued at approximately $1,742,541.39. This represents a 3.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Kearny Financial Trading Up 1.0%

Shares of NASDAQ KRNY traded up $0.07 during mid-day trading on Tuesday, hitting $6.59. The stock had a trading volume of 152,814 shares, compared to its average volume of 357,310. The firm has a market cap of $426.38 million, a P/E ratio of 15.68 and a beta of 0.77. The business has a 50 day moving average price of $6.35 and a two-hundred day moving average price of $6.28. Kearny Financial has a 1 year low of $5.45 and a 1 year high of $8.59. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.05.

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

Kearny Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.11 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.44 dividend on an annualized basis and a yield of 6.7%. Kearny Financial's dividend payout ratio (DPR) is presently 104.76%.

Institutional Investors Weigh In On Kearny Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings in Kearny Financial by 11,688.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company's stock valued at $27,000 after buying an additional 4,091 shares in the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 3,461 shares during the period. State of Wyoming acquired a new stake in Kearny Financial during the 1st quarter valued at $49,000. Entropy Technologies LP acquired a new position in shares of Kearny Financial in the 1st quarter worth approximately $68,000. Finally, Nisa Investment Advisors LLC raised its stake in Kearny Financial by 18,309.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company's stock valued at $75,000 after acquiring an additional 11,535 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

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.

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