Renaissance Technologies LLC Sells 284,000 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Renaissance Technologies LLC decreased its position in shares of Kearny Financial Corp. (NASDAQ:KRNY - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,951,686 shares of the savings and loans company's stock after selling 284,000 shares during the period. Renaissance Technologies LLC owned 4.57% of Kearny Financial worth $20,898,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its position in Kearny Financial by 40.4% during the third quarter. FMR LLC now owns 8,495 shares of the savings and loans company's stock valued at $58,000 after acquiring an additional 2,445 shares in the last quarter. Ieq Capital LLC bought a new stake in Kearny Financial in the fourth quarter worth $73,000. Optas LLC acquired a new position in Kearny Financial during the fourth quarter worth $87,000. Quantbot Technologies LP lifted its position in shares of Kearny Financial by 13.1% in the fourth quarter. Quantbot Technologies LP now owns 12,784 shares of the savings and loans company's stock worth $91,000 after buying an additional 1,476 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Kearny Financial during the 4th quarter valued at about $94,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Kearny Financial Stock Performance

Shares of KRNY traded up $0.06 during mid-day trading on Friday, hitting $5.92. The company's stock had a trading volume of 329,387 shares, compared to its average volume of 385,073. Kearny Financial Corp. has a one year low of $5.28 and a one year high of $8.59. The stock's 50-day moving average is $6.44 and its two-hundred day moving average is $7.06. The firm has a market capitalization of $382.31 million, a PE ratio of -5.24 and a beta of 0.70. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.04 and a current ratio of 1.04.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). Kearny Financial had a negative net margin of 20.05% and a positive return on equity of 3.31%.

Kearny Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.43%. Kearny Financial's payout ratio is -38.94%.

Insider Buying and Selling

In related news, Director Melvina Wong-Zaza acquired 5,000 shares of the firm's stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $7.23 per share, with a total value of $36,150.00. Following the completion of the acquisition, the director now owns 27,535 shares of the company's stock, valued at $199,078.05. This trade represents a 22.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upgraded shares of Kearny Financial from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $9.00 to $8.50 in a research note on Monday, January 6th.

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.