Bank of New York Mellon Corp trimmed its holdings in Kearny Financial (NASDAQ:KRNY) by 2.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 413,730 shares of the savings and loans company’s stock after selling 11,880 shares during the period. Bank of New York Mellon Corp owned 0.51% of Kearny Financial worth $6,351,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Fox Run Management L.L.C. purchased a new stake in shares of Kearny Financial in the third quarter valued at about $623,000. State Street Corp raised its holdings in shares of Kearny Financial by 4.0% in the second quarter. State Street Corp now owns 1,925,756 shares of the savings and loans company’s stock valued at $28,597,000 after buying an additional 74,783 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Kearny Financial in the second quarter valued at about $587,000. Tudor Investment Corp ET AL raised its holdings in shares of Kearny Financial by 1.3% in the second quarter. Tudor Investment Corp ET AL now owns 44,515 shares of the savings and loans company’s stock valued at $661,000 after buying an additional 556 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in Kearny Financial by 10.3% during the second quarter. Voya Investment Management LLC now owns 40,946 shares of the savings and loans company’s stock worth $608,000 after purchasing an additional 3,811 shares in the last quarter. 62.44% of the stock is owned by institutional investors and hedge funds.
Kearny Financial (NASDAQ:KRNY) opened at $14.45 on Monday. The stock has a market cap of $1,170.71, a PE ratio of 62.83 and a beta of 0.57. Kearny Financial has a 1-year low of $13.35 and a 1-year high of $15.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.
Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Monday, October 30th. The savings and loans company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $29.90 million during the quarter. Kearny Financial had a net margin of 12.31% and a return on equity of 1.79%.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.12 annualized dividend and a yield of 0.83%. Kearny Financial’s dividend payout ratio is currently 52.17%.
In other Kearny Financial news, Director Theodore J. Aanensen sold 3,500 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $14.49, for a total transaction of $50,715.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew T. Mcclane sold 13,804 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $14.42, for a total transaction of $199,053.68. The disclosure for this sale can be found here. Insiders have sold 19,804 shares of company stock worth $286,334 over the last 90 days. 3.78% of the stock is currently owned by company insiders.
KRNY has been the subject of several analyst reports. BidaskClub cut shares of Kearny Financial from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Keefe, Bruyette & Woods reissued a “sell” rating and set a $14.00 price target on shares of Kearny Financial in a report on Friday, December 22nd.
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Kearny Financial Profile
Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.
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