Kearny Financial Corp. (NASDAQ:KRNY – Get Rating) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 2,310,000 shares, a decrease of 6.9% from the July 15th total of 2,480,000 shares. Approximately 3.7% of the company's shares are short sold. Based on an average daily trading volume, of 323,500 shares, the short-interest ratio is currently 7.1 days.
Kearny Financial Price Performance
Kearny Financial stock opened at $12.49 on Wednesday. The firm has a market cap of $879.56 million, a PE ratio of 13.29 and a beta of 0.77. Kearny Financial has a 52-week low of $10.59 and a 52-week high of $13.89. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $11.45 and its two-hundred day moving average is $12.26.
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Kearny Financial (NASDAQ:KRNY – Get Rating) last released its earnings results on Thursday, July 28th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.04). The business had revenue of $53.41 million for the quarter, compared to analyst estimates of $51.60 million. Kearny Financial had a return on equity of 7.04% and a net margin of 28.12%.
Kearny Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.52%. Kearny Financial's payout ratio is 46.81%.
Insider Activity
In other news, EVP Thomas Demedici sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $12.01, for a total value of $30,025.00. Following the transaction, the executive vice president now directly owns 55,392 shares in the company, valued at approximately $665,257.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.23% of the company's stock.
Institutional Investors Weigh In On Kearny Financial
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Kearny Financial by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,044,277 shares of the savings and loans company's stock valued at $77,851,000 after buying an additional 101,930 shares during the last quarter. Ancora Advisors LLC grew its position in shares of Kearny Financial by 900.0% in the 1st quarter. Ancora Advisors LLC now owns 656,009 shares of the savings and loans company's stock valued at $7,925,000 after buying an additional 590,408 shares during the last quarter. JPMorgan Chase & Co. grew its position in Kearny Financial by 14.0% during the 4th quarter. JPMorgan Chase & Co. now owns 585,007 shares of the savings and loans company's stock worth $7,751,000 after purchasing an additional 71,844 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Kearny Financial by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 562,844 shares of the savings and loans company's stock worth $7,250,000 after purchasing an additional 45,942 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Kearny Financial by 25.9% during the 2nd quarter. Victory Capital Management Inc. now owns 546,701 shares of the savings and loans company's stock worth $6,074,000 after purchasing an additional 112,506 shares during the last quarter. 64.44% of the stock is currently owned by institutional investors and hedge funds.
About Kearny Financial
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Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.
Further Reading
- Get a free copy of the StockNews.com research report on Kearny Financial (KRNY)
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