Bank of New York Mellon Corp Increases Holdings in Kearny Financial Corp. (NASDAQ:KRNY)

Bank of New York Mellon Corp increased its stake in Kearny Financial Corp. (NASDAQ:KRNY) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,700 shares of the savings and loans company’s stock after acquiring an additional 15,423 shares during the period. Bank of New York Mellon Corp’s holdings in Kearny Financial were worth $2,624,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in shares of Kearny Financial by 44.9% in the 4th quarter. Quadrant Capital Group LLC now owns 5,199 shares of the savings and loans company’s stock valued at $47,000 after purchasing an additional 1,612 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Kearny Financial in the first quarter worth $94,000. CWM LLC boosted its stake in Kearny Financial by 1,798.6% during the second quarter. CWM LLC now owns 20,106 shares of the savings and loans company’s stock worth $124,000 after buying an additional 19,047 shares during the period. BNP Paribas Financial Markets increased its position in Kearny Financial by 91.3% during the first quarter. BNP Paribas Financial Markets now owns 27,598 shares of the savings and loans company’s stock valued at $178,000 after acquiring an additional 13,171 shares during the last quarter. Finally, Caxton Associates LP raised its stake in shares of Kearny Financial by 79.0% in the first quarter. Caxton Associates LP now owns 43,687 shares of the savings and loans company’s stock valued at $281,000 after acquiring an additional 19,277 shares during the period. 71.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Kearny Financial from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th.

Insiders Place Their Bets

In other news, EVP Thomas Demedici sold 6,304 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $6.00, for a total transaction of $37,824.00. Following the transaction, the executive vice president now directly owns 70,614 shares of the company’s stock, valued at $423,684. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 8.22% of the company’s stock.

Kearny Financial Price Performance

Shares of KRNY stock opened at $6.72 on Tuesday. The stock has a 50 day moving average price of $6.59 and a 200 day moving average price of $6.10. Kearny Financial Corp. has a 52-week low of $5.28 and a 52-week high of $9.46. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $433.02 million, a P/E ratio of 26.88 and a beta of 0.77.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Thursday, July 25th. The savings and loans company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The business had revenue of $39.08 million during the quarter, compared to analysts’ expectations of $39.00 million. Kearny Financial had a positive return on equity of 3.41% and a negative net margin of 26.51%.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 12th were given a $0.11 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.44 annualized dividend and a yield of 6.55%. Kearny Financial’s dividend payout ratio (DPR) is 176.00%.

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.