Rhino Investment Partners Inc lifted its stake in Kearny Financial Corp. (NASDAQ:KRNY - Free Report) by 294.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 599,283 shares of the savings and loans company's stock after purchasing an additional 447,447 shares during the quarter. Rhino Investment Partners Inc owned about 0.93% of Kearny Financial worth $4,243,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its position in shares of Kearny Financial by 116.1% in the 3rd quarter. Jane Street Group LLC now owns 127,433 shares of the savings and loans company's stock worth $875,000 after purchasing an additional 68,473 shares during the last quarter. Barclays PLC lifted its position in Kearny Financial by 26.1% in the 3rd quarter. Barclays PLC now owns 428,421 shares of the savings and loans company's stock valued at $2,944,000 after acquiring an additional 88,771 shares in the last quarter. Franklin Resources Inc. boosted its stake in Kearny Financial by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 57,506 shares of the savings and loans company's stock valued at $404,000 after purchasing an additional 1,576 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kearny Financial by 161.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 239,689 shares of the savings and loans company's stock worth $1,647,000 after purchasing an additional 147,892 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Kearny Financial by 27.8% in the fourth quarter. SG Americas Securities LLC now owns 52,275 shares of the savings and loans company's stock worth $370,000 after purchasing an additional 11,373 shares during the last quarter. Institutional investors own 71.01% of the company's stock.
Analyst Ratings Changes
KRNY has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Kearny Financial from $7.25 to $7.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 29th. Piper Sandler raised shares of Kearny Financial from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $9.00 to $8.50 in a research note on Monday, January 6th.
Read Our Latest Report on Kearny Financial
Kearny Financial Price Performance
KRNY traded up $0.03 on Tuesday, hitting $6.45. 184,293 shares of the company's stock traded hands, compared to its average volume of 379,430. The firm has a market cap of $416.22 million, a price-to-earnings ratio of -5.70 and a beta of 0.70. The company's 50 day simple moving average is $6.24 and its 200-day simple moving average is $7.01. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.69. Kearny Financial Corp. has a one year low of $5.31 and a one year high of $8.59.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $38.60 million during the quarter, compared to analyst estimates of $38.71 million. 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date is Wednesday, May 7th. Kearny Financial's payout ratio is currently -38.60%.
Insider Buying and Selling
In other Kearny Financial news, Director Melvina Wong-Zaza acquired 5,000 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $7.23 per share, for a total transaction of $36,150.00. Following the acquisition, the director now owns 27,535 shares in the company, valued at approximately $199,078.05. This trade represents a 22.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.56% of the stock is currently owned by company insiders.
About Kearny Financial
(
Free Report)
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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