Metropolitan Life Insurance Co. NY increased its stake in Kearny Financial (NASDAQ:KRNY) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 64,386 shares of the company’s stock after buying an additional 1,207 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Kearny Financial were worth $1,001,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Benin Management CORP increased its stake in Kearny Financial by 17.9% in the third quarter. Benin Management CORP now owns 11,859 shares of the company’s stock valued at $161,000 after buying an additional 1,800 shares during the period. Victory Capital Management Inc. bought a new stake in Kearny Financial during the third quarter valued at approximately $180,000. Greenwood Capital Associates LLC increased its stake in Kearny Financial by 7.7% in the fourth quarter. Greenwood Capital Associates LLC now owns 13,986 shares of the company’s stock valued at $217,000 after buying an additional 1,001 shares during the period. Teton Advisors Inc. increased its stake in Kearny Financial by 34.2% in the fourth quarter. Teton Advisors Inc. now owns 14,900 shares of the company’s stock valued at $232,000 after buying an additional 3,800 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Kearny Financial during the third quarter valued at approximately $255,000. 65.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kearny Financial (NASDAQ:KRNY) opened at 15.05 on Tuesday. The firm has a 50-day moving average price of $15.26 and a 200 day moving average price of $14.75. Kearny Financial has a 12-month low of $12.01 and a 12-month high of $16.10. The company has a market capitalization of $1.29 billion, a P/E ratio of 68.72 and a beta of 0.63.
Kearny Financial (NASDAQ:KRNY) last released its earnings results on Monday, January 30th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Kearny Financial had a net margin of 13.26% and a return on equity of 1.69%. On average, equities research analysts predict that Kearny Financial will post $0.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Monday, February 27th. This is an increase from Kearny Financial’s previous quarterly dividend of $0.02. Kearny Financial’s dividend payout ratio is currently 38.10%.
Separately, Compass Point raised Kearny Financial from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, January 31st.
In other Kearny Financial news, CFO Eric B. Heyer sold 41,412 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $15.38, for a total transaction of $636,916.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John F. Regan sold 13,450 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $14.94, for a total transaction of $200,943.00. The disclosure for this sale can be found here. Corporate insiders own 2.68% of the company’s stock.
About Kearny Financial
Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.
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