Creative Planning Grows Stock Position in Kearny Financial Corp. (NASDAQ:KRNY)

Creative Planning increased its stake in Kearny Financial Corp. (NASDAQ:KRNY) by 46.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,969 shares of the savings and loans company’s stock after purchasing an additional 60,541 shares during the period. Creative Planning owned 0.30% of Kearny Financial worth $1,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Kearny Financial by 53.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,367 shares of the savings and loans company’s stock worth $58,000 after acquiring an additional 3,249 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in Kearny Financial during the second quarter valued at approximately $65,000. CWM LLC lifted its holdings in Kearny Financial by 1,798.6% in the second quarter. CWM LLC now owns 20,106 shares of the savings and loans company’s stock valued at $124,000 after acquiring an additional 19,047 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Kearny Financial in the 2nd quarter worth approximately $133,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Kearny Financial by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,015 shares of the savings and loans company’s stock worth $142,000 after purchasing an additional 1,911 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kearny Financial news, EVP Thomas Demedici sold 6,304 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $6.00, for a total transaction of $37,824.00. Following the sale, the executive vice president now directly owns 70,614 shares in the company, valued at $423,684. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.22% of the stock is currently owned by corporate insiders.

Kearny Financial Stock Performance

NASDAQ KRNY opened at $7.09 on Thursday. The stock’s 50 day simple moving average is $6.82 and its 200-day simple moving average is $6.28. Kearny Financial Corp. has a 1-year low of $5.28 and a 1-year high of $9.46. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $456.86 million, a PE ratio of 28.36 and a beta of 0.77.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Thursday, October 24th. The savings and loans company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Kearny Financial had a positive return on equity of 3.41% and a negative net margin of 26.51%. The business had revenue of $87.88 million during the quarter, compared to the consensus estimate of $37.70 million. During the same period last year, the company earned $0.16 EPS.

Kearny Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend is Wednesday, November 6th. Kearny Financial’s dividend payout ratio (DPR) is presently 176.00%.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com upgraded shares of Kearny Financial from a “sell” rating to a “hold” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price target on Kearny Financial from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th.

Kearny Financial Company 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.