Intech Investment Management LLC Buys 12,702 Shares of Kearny Financial Corp. (NASDAQ:KRNY)

Intech Investment Management LLC boosted its stake in shares of Kearny Financial Corp. (NASDAQ:KRNY) by 100.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,287 shares of the savings and loans company’s stock after acquiring an additional 12,702 shares during the quarter. Intech Investment Management LLC’s holdings in Kearny Financial were worth $179,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of KRNY. Barclays PLC grew its holdings in shares of Kearny Financial by 26.1% in the 3rd quarter. Barclays PLC now owns 428,421 shares of the savings and loans company’s stock worth $2,944,000 after purchasing an additional 88,771 shares during the last quarter. Jane Street Group LLC boosted its position in Kearny Financial by 116.1% in the third quarter. Jane Street Group LLC now owns 127,433 shares of the savings and loans company’s stock valued at $875,000 after buying an additional 68,473 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Kearny Financial by 345.9% during the third quarter. BNP Paribas Financial Markets now owns 104,772 shares of the savings and loans company’s stock worth $720,000 after buying an additional 81,274 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Kearny Financial by 161.1% during the third quarter. JPMorgan Chase & Co. now owns 239,689 shares of the savings and loans company’s stock worth $1,647,000 after buying an additional 147,892 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Kearny Financial by 2.8% during the third quarter. Franklin Resources Inc. now owns 57,506 shares of the savings and loans company’s stock worth $404,000 after buying an additional 1,576 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler raised Kearny Financial from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $9.00 to $8.50 in a report on Monday, January 6th.

Kearny Financial Stock Performance

Kearny Financial stock opened at $6.40 on Friday. Kearny Financial Corp. has a 12-month low of $5.28 and a 12-month high of $8.59. The stock has a 50-day simple moving average of $6.86 and a 200 day simple moving average of $7.16. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $413.31 million, a price-to-earnings ratio of -5.66 and a beta of 0.77.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Kearny Financial had a positive return on equity of 3.31% and a negative net margin of 20.05%.

Kearny Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.44 dividend on an annualized basis and a yield of 6.88%. Kearny Financial’s payout ratio is -38.94%.

Insider Activity

In other news, Director Melvina Wong-Zaza purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $7.23 per share, for a total transaction of $36,150.00. Following the completion of the acquisition, the director now directly owns 27,535 shares in the company, valued at approximately $199,078.05. The trade was a 22.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.56% of the company’s stock.

Kearny Financial 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.