Massachusetts Financial Services Co. MA Has $1.09 Million Stake in Kearny Financial Corp. (NASDAQ:KRNY)

Massachusetts Financial Services Co. MA raised its position in Kearny Financial Corp. (NASDAQ:KRNY) by 124.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,805 shares of the savings and loans company’s stock after acquiring an additional 98,598 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Kearny Financial were worth $1,094,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KRNY. rhino investment partners Inc bought a new stake in shares of Kearny Financial in the 4th quarter valued at about $2,553,000. Charles Schwab Investment Management Inc. raised its stake in Kearny Financial by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 897,523 shares of the savings and loans company’s stock valued at $8,051,000 after buying an additional 34,443 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Kearny Financial by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 426,700 shares of the savings and loans company’s stock valued at $2,624,000 after buying an additional 15,423 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Kearny Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 148,057 shares of the savings and loans company’s stock worth $953,000 after acquiring an additional 11,190 shares during the period. Finally, CWM LLC increased its holdings in shares of Kearny Financial by 1,798.6% during the 2nd quarter. CWM LLC now owns 20,106 shares of the savings and loans company’s stock worth $124,000 after acquiring an additional 19,047 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price target on Kearny Financial from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th.

Insider Transactions at Kearny Financial

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

Kearny Financial Price Performance

Kearny Financial stock opened at $6.96 on Monday. The company has a market capitalization of $448.48 million, a price-to-earnings ratio of 27.84 and a beta of 0.77. The stock’s 50 day moving average is $6.67 and its 200-day moving average is $6.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.27. Kearny Financial Corp. has a 12 month low of $5.28 and a 12 month high of $9.46.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Thursday, July 25th. The savings and loans company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). The firm had revenue of $39.08 million for the quarter, compared to the consensus estimate 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 firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 12th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.32%. Kearny Financial’s payout ratio is presently 176.00%.

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.