Thrivent Financial for Lutherans Sells 63,821 Shares of Kearny Financial $KRNY

Thrivent Financial for Lutherans lessened its stake in Kearny Financial (NASDAQ:KRNY) by 47.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,395 shares of the savings and loans company’s stock after selling 63,821 shares during the period. Thrivent Financial for Lutherans owned about 0.11% of Kearny Financial worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. raised its holdings in Kearny Financial by 11,688.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 4,091 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Kearny Financial by 18,309.5% in the second quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company’s stock valued at $75,000 after purchasing an additional 11,535 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in Kearny Financial in the second quarter worth $84,000. Inscription Capital LLC acquired a new stake in Kearny Financial during the third quarter worth $97,000. Finally, Brevan Howard Capital Management LP bought a new stake in Kearny Financial in the 2nd quarter valued at $106,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Kearny Financial Trading Up 1.1%

KRNY stock opened at $8.17 on Wednesday. The business has a fifty day moving average price of $7.81 and a 200 day moving average price of $6.99. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. Kearny Financial has a fifty-two week low of $5.45 and a fifty-two week high of $8.50. The stock has a market capitalization of $528.93 million, a price-to-earnings ratio of 15.71 and a beta of 0.70.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a return on equity of 4.26% and a net margin of 9.41%.The business had revenue of $43.54 million for the quarter, compared to the consensus estimate of $44.84 million.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.4%. The ex-dividend date is Wednesday, February 4th. Kearny Financial’s dividend payout ratio (DPR) is presently 84.62%.

Insider Buying and Selling at Kearny Financial

In related news, EVP Patrick M. Joyce sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total value of $30,600.00. Following the completion of the sale, the executive vice president owned 54,365 shares of the company’s stock, valued at $415,892.25. This trade represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 7.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kearny Financial in a report on Wednesday, January 28th. Piper Sandler lifted their price objective on Kearny Financial from $7.50 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

Kearny Financial Profile

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company’s core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.