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Pallas Capital Advisors LLC lifted its position in Kearny Financial Corp. (NASDAQ:KRNY – Free Report) by 42.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,534 shares of the savings and loans company’s stock after purchasing an additional 4,893 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Kearny Financial were worth $104,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in KRNY. Empowered Funds LLC raised its position in Kearny Financial by 5.0% during the fourth quarter. Empowered Funds LLC now owns 166,738 shares of the savings and loans company’s stock valued at $1,181,000 after purchasing an additional 7,983 shares during the period. Ieq Capital LLC purchased a new position in shares of Kearny Financial in the 4th quarter valued at $73,000. Proficio Capital Partners LLC purchased a new position in shares of Kearny Financial in the 4th quarter valued at $184,000. AlphaQuest LLC purchased a new position in shares of Kearny Financial in the 4th quarter valued at $458,000. Finally, GWN Securities Inc. acquired a new stake in shares of Kearny Financial in the 4th quarter worth $95,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
Kearny Financial Trading Down 1.9%
Shares of Kearny Financial stock opened at $6.24 on Friday. The stock has a market cap of $402.98 million, a P/E ratio of -5.52 and a beta of 0.70. The stock’s 50 day simple moving average is $6.15 and its 200-day simple moving average is $6.73. Kearny Financial Corp. has a 1-year low of $5.32 and a 1-year high of $8.59. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.04 and a quick ratio of 1.04.
Kearny Financial (NASDAQ:KRNY – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $38.60 million for the quarter, compared to analyst estimates of $38.71 million. Kearny Financial had a negative net margin of 20.05% and a positive return on equity of 3.31%.
Kearny Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.44 annualized dividend and a dividend yield of 7.05%. Kearny Financial’s dividend payout ratio (DPR) is -38.60%.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods reduced their target price on Kearny Financial from $7.25 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, April 29th.
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.
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