Cubist Systematic Strategies LLC Raises Stake in Kearny Financial Corp. (NASDAQ:KRNY)

Cubist Systematic Strategies LLC lifted its position in shares of Kearny Financial Corp. (NASDAQ:KRNY) by 121.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 119,872 shares of the savings and loans company’s stock after buying an additional 65,783 shares during the period. Cubist Systematic Strategies LLC’s holdings in Kearny Financial were worth $737,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Kearny Financial by 124.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 177,805 shares of the savings and loans company’s stock worth $1,094,000 after purchasing an additional 98,598 shares during the period. Thrivent Financial for Lutherans increased its stake in Kearny Financial by 109.9% in the second quarter. Thrivent Financial for Lutherans now owns 184,591 shares of the savings and loans company’s stock valued at $1,135,000 after purchasing an additional 96,628 shares during the last quarter. Marshall Wace LLP purchased a new stake in Kearny Financial in the second quarter valued at approximately $183,000. Hsbc Holdings PLC purchased a new position in Kearny Financial during the second quarter worth approximately $149,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Kearny Financial in the 2nd quarter valued at $133,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

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

Kearny Financial Stock Performance

Shares of KRNY stock opened at $6.63 on Friday. 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’s fifty day moving average price is $6.65 and its two-hundred day moving average price is $6.16. The firm has a market capitalization of $427.22 million, a P/E ratio of 26.52 and a beta of 0.77. Kearny Financial Corp. has a 12 month low of $5.28 and a 12 month high of $9.46.

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

Kearny Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 12th were paid a $0.11 dividend. 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 6.64%. Kearny Financial’s dividend payout ratio (DPR) is presently 176.00%.

Insider Activity at Kearny Financial

In other Kearny Financial news, EVP Thomas Demedici sold 6,304 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 70,614 shares of the company’s stock, valued at approximately $423,684. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.22% of the stock is currently owned by corporate insiders.

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.