Schwab Charles Investment Management Inc. Boosts Stake in Kearny Financial (KRNY)

Schwab Charles Investment Management Inc. lifted its holdings in Kearny Financial (NASDAQ:KRNY) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 385,413 shares of the savings and loans company’s stock after purchasing an additional 3,716 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Kearny Financial were worth $5,570,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of KRNY. SG Americas Securities LLC purchased a new position in Kearny Financial during the third quarter worth about $304,000. Citadel Advisors LLC raised its stake in Kearny Financial by 142.7% during the third quarter. Citadel Advisors LLC now owns 38,557 shares of the savings and loans company’s stock worth $592,000 after purchasing an additional 22,673 shares during the period. American International Group Inc. raised its stake in Kearny Financial by 8.1% during the third quarter. American International Group Inc. now owns 56,960 shares of the savings and loans company’s stock worth $874,000 after purchasing an additional 4,258 shares during the period. GSA Capital Partners LLP raised its stake in Kearny Financial by 457.3% during the third quarter. GSA Capital Partners LLP now owns 72,390 shares of the savings and loans company’s stock worth $1,111,000 after purchasing an additional 59,400 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Kearny Financial by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 569,296 shares of the savings and loans company’s stock worth $8,738,000 after purchasing an additional 65,553 shares during the period. 65.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $13.50 target price on shares of Kearny Financial in a research note on Friday, February 2nd. BidaskClub raised shares of Kearny Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 31st.

In other Kearny Financial news, Director Theodore J. Aanensen sold 3,500 shares of Kearny Financial stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $14.49, for a total transaction of $50,715.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 6,000 shares of company stock worth $87,280 over the last ninety days. 3.78% of the stock is owned by insiders.

Kearny Financial (NASDAQ:KRNY) opened at $13.45 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.10. Kearny Financial has a 52 week low of $12.75 and a 52 week high of $15.62. The company has a market cap of $1,060.00, a PE ratio of 74.72 and a beta of 0.52.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Tuesday, January 30th. The savings and loans company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Kearny Financial had a net margin of 9.40% and a return on equity of 1.80%. The company had revenue of $30.10 million for the quarter.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, March 6th. Kearny Financial’s dividend payout ratio (DPR) is presently 66.67%.

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Kearny Financial Profile

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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Institutional Ownership by Quarter for Kearny Financial (NASDAQ:KRNY)

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