Bank of America Corp DE Purchases 4,440 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Bank of America Corp DE increased its position in shares of Kearny Financial Corp. (NASDAQ:KRNY) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 300,283 shares of the savings and loans company’s stock after buying an additional 4,440 shares during the quarter. Bank of America Corp DE owned 0.46% of Kearny Financial worth $2,126,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Barclays PLC grew its stake in Kearny Financial by 26.1% in the third quarter. Barclays PLC now owns 428,421 shares of the savings and loans company’s stock valued at $2,944,000 after purchasing an additional 88,771 shares in the last quarter. JPMorgan Chase & Co. grew 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 purchasing an additional 80,033 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Kearny Financial in the fourth quarter valued at approximately $184,000. Empowered Funds LLC grew its stake in Kearny Financial by 5.0% in the fourth quarter. Empowered Funds LLC now owns 166,738 shares of the savings and loans company’s stock valued at $1,181,000 after purchasing an additional 7,983 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in 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 valued at $370,000 after purchasing an additional 11,373 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods decreased their price target on Kearny Financial from $7.25 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, April 29th.

Kearny Financial Stock Down 2.2%

KRNY stock opened at $5.90 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.69. Kearny Financial Corp. has a twelve month low of $5.31 and a twelve month high of $8.59. The business has a 50 day moving average price of $6.14 and a two-hundred day moving average price of $6.83. The company has a market cap of $381.02 million, a price-to-earnings ratio of -5.22 and a beta of 0.70.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Thursday, April 24th. The savings and loans company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Kearny Financial had a positive return on equity of 3.31% and a negative net margin of 20.05%. The company had revenue of $38.60 million during the quarter, compared to the consensus estimate of $38.71 million.

Kearny Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, May 7th. This represents a $0.44 annualized dividend and a yield of 7.46%. Kearny Financial’s payout ratio is currently -38.60%.

About Kearny Financial

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.