Kearny Financial (NASDAQ:KRNY) Price Target Increased to $7.00 by Analysts at Keefe, Bruyette & Woods

Kearny Financial (NASDAQ:KRNY) had its price objective hoisted by Keefe, Bruyette & Woods from $6.00 to $7.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a market perform rating on the savings and loans company’s stock.

Kearny Financial Stock Down 2.2 %

KRNY stock opened at $6.79 on Tuesday. The firm’s fifty day simple moving average is $6.09 and its 200-day simple moving average is $6.25. The company has a market capitalization of $437.55 million, a P/E ratio of 27.16 and a beta of 0.78. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.12 and a quick ratio of 1.12. Kearny Financial has a 12 month low of $5.28 and a 12 month high of $9.46.

Kearny Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 6.48%. The ex-dividend date is Monday, August 12th. Kearny Financial’s dividend payout ratio (DPR) is currently 176.00%.

Insider Activity

In other news, Director Melvina Wong-Zaza bought 8,340 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $5.95 per share, for a total transaction of $49,623.00. Following the purchase, the director now directly owns 14,935 shares in the company, valued at approximately $88,863.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Melvina Wong-Zaza bought 8,340 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $5.95 per share, for a total transaction of $49,623.00. Following the purchase, the director now directly owns 14,935 shares in the company, valued at approximately $88,863.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles J. Pivirotto bought 5,160 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $5.76 per share, with a total value of $29,721.60. Following the completion of the purchase, the director now owns 59,573 shares in the company, valued at $343,140.48. The disclosure for this purchase can be found here. Insiders own 8.22% of the company’s stock.

Hedge Funds Weigh In On Kearny Financial

A number of large investors have recently added to or reduced their stakes in KRNY. rhino investment partners Inc acquired a new position in Kearny Financial during the fourth quarter worth $2,553,000. Quest Partners LLC acquired a new position in Kearny Financial during the fourth quarter worth $318,000. Charles Schwab Investment Management Inc. raised its position in Kearny Financial by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 897,523 shares of the savings and loans company’s stock worth $8,051,000 after acquiring an additional 34,443 shares during the period. White Pine Capital LLC raised its position in Kearny Financial by 51.5% during the fourth quarter. White Pine Capital LLC now owns 68,257 shares of the savings and loans company’s stock worth $612,000 after acquiring an additional 23,214 shares during the period. Finally, Caxton Associates LP raised its position in Kearny Financial by 79.0% during the first quarter. Caxton Associates LP now owns 43,687 shares of the savings and loans company’s stock worth $281,000 after acquiring an additional 19,277 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.