Geode Capital Management LLC Acquires 2,001 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Geode Capital Management LLC increased its holdings in shares of Kearny Financial Corp. (NASDAQ:KRNY) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,354,977 shares of the savings and loans company’s stock after purchasing an additional 2,001 shares during the period. Geode Capital Management LLC owned approximately 2.10% of Kearny Financial worth $9,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of KRNY. JPMorgan Chase & Co. lifted its stake in Kearny Financial by 33.4% in the fourth quarter. JPMorgan Chase & Co. now owns 319,722 shares of the savings and loans company’s stock valued at $2,264,000 after buying an additional 80,033 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Kearny Financial during the fourth quarter worth $94,000. American Century Companies Inc. lifted its position in Kearny Financial by 2.3% in the 4th quarter. American Century Companies Inc. now owns 407,861 shares of the savings and loans company’s stock valued at $2,888,000 after acquiring an additional 9,255 shares in the last quarter. Quantbot Technologies LP boosted its stake in Kearny Financial by 13.1% in the 4th quarter. Quantbot Technologies LP now owns 12,784 shares of the savings and loans company’s stock worth $91,000 after purchasing an additional 1,476 shares during the period. Finally, Virtu Financial LLC bought a new position in Kearny Financial during the 4th quarter worth about $136,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Kearny Financial Price Performance

NASDAQ KRNY opened at $6.16 on Thursday. The firm’s 50 day moving average is $6.34 and its 200-day moving average is $7.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $397.81 million, a PE ratio of -5.45 and a beta of 0.70. Kearny Financial Corp. has a 12-month low of $5.28 and a 12-month high of $8.59.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.44 annualized dividend and a yield of 7.14%. Kearny Financial’s payout ratio is presently -38.94%.

Insider Activity at Kearny Financial

In related news, Director Melvina Wong-Zaza acquired 5,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $7.23 per share, for a total transaction of $36,150.00. Following the purchase, the director now directly owns 27,535 shares in the company, valued at approximately $199,078.05. This trade represents a 22.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upgraded Kearny Financial from a “neutral” rating to an “overweight” rating and cut their price target for the company from $9.00 to $8.50 in a report 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.