Renaissance Technologies LLC Trims Position in Kearny Financial Corp. (NASDAQ:KRNY)

Renaissance Technologies LLC decreased its holdings in shares of Kearny Financial Corp. (NASDAQ:KRNY) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,951,686 shares of the savings and loans company’s stock after selling 284,000 shares during the period. Renaissance Technologies LLC’s holdings in Kearny Financial were worth $20,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KRNY. FMR LLC raised its stake in Kearny Financial by 40.4% during the 3rd quarter. FMR LLC now owns 8,495 shares of the savings and loans company’s stock valued at $58,000 after acquiring an additional 2,445 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of Kearny Financial in the fourth quarter valued at approximately $73,000. Optas LLC purchased a new stake in shares of Kearny Financial during the fourth quarter worth approximately $87,000. Quantbot Technologies LP grew its position in Kearny Financial by 13.1% in the 4th quarter. Quantbot Technologies LP now owns 12,784 shares of the savings and loans company’s stock valued at $91,000 after buying an additional 1,476 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Kearny Financial in the 4th quarter valued at $94,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Kearny Financial Stock Performance

Shares of KRNY stock opened at $5.66 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.69. Kearny Financial Corp. has a 12-month low of $5.28 and a 12-month high of $8.59. The company has a market cap of $365.52 million, a price-to-earnings ratio of -5.01 and a beta of 0.70. The stock has a 50 day simple moving average of $6.55 and a 200-day simple moving average of $7.09.

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

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date of this dividend was Wednesday, February 12th. Kearny Financial’s dividend payout ratio is currently -38.94%.

Analysts Set New Price Targets

Separately, Piper Sandler upgraded shares of 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 research note on Monday, January 6th.

Insiders Place Their Bets

In other news, Director Melvina Wong-Zaza purchased 5,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $7.23 per share, with a total value of $36,150.00. Following the purchase, the director now directly owns 27,535 shares of the company’s stock, valued at $199,078.05. The trade was a 22.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 8.56% of the stock is currently owned by company insiders.

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.