Intech Investment Management LLC Acquires 12,702 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Intech Investment Management LLC lifted its stake in Kearny Financial Corp. (NASDAQ:KRNY) by 100.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,287 shares of the savings and loans company’s stock after purchasing an additional 12,702 shares during the period. Intech Investment Management LLC’s holdings in Kearny Financial were worth $179,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KRNY. Jacobs Levy Equity Management Inc. boosted its holdings in Kearny Financial by 79.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 564,572 shares of the savings and loans company’s stock worth $3,879,000 after buying an additional 249,437 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $1,647,000 after acquiring an additional 147,892 shares during the period. Barclays PLC raised its position in shares of 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 during the period. BNP Paribas Financial Markets boosted its stake in Kearny Financial by 345.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 104,772 shares of the savings and loans company’s stock worth $720,000 after acquiring an additional 81,274 shares during the last quarter. Finally, Fourthstone LLC acquired a new position in Kearny Financial during the third quarter valued at approximately $481,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler upgraded shares of Kearny Financial from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $9.00 to $8.50 in a report on Monday, January 6th.

Kearny Financial Stock Up 0.3 %

Shares of Kearny Financial stock opened at $6.40 on Friday. The company has a market capitalization of $413.31 million, a P/E ratio of -5.66 and a beta of 0.77. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $6.86 and a two-hundred day moving average of $7.16. Kearny Financial Corp. has a 1 year low of $5.28 and a 1 year high of $8.59.

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

Kearny Financial Dividend Announcement

The business 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. This represents a $0.44 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Wednesday, February 12th. Kearny Financial’s payout ratio is presently -38.94%.

Insiders Place Their Bets

In other news, Director Melvina Wong-Zaza acquired 5,000 shares of Kearny Financial stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $7.23 per share, with a total value of $36,150.00. Following the completion of the transaction, the director now directly owns 27,535 shares of the company’s stock, valued at approximately $199,078.05. This represents a 22.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.56% of the company’s stock.

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.