Millennium Management LLC raised its stake in Kearny Financial (NASDAQ:KRNY) by 234.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,246,611 shares of the savings and loans company’s stock after acquiring an additional 873,526 shares during the quarter. Millennium Management LLC’s holdings in Kearny Financial were worth $18,014,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KRNY. Schwab Charles Investment Management Inc. increased its stake in Kearny Financial by 1.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 385,413 shares of the savings and loans company’s stock valued at $5,570,000 after purchasing an additional 3,716 shares during the last quarter. American International Group Inc. increased its stake in Kearny Financial by 8.1% in the third quarter. American International Group Inc. now owns 56,960 shares of the savings and loans company’s stock valued at $874,000 after purchasing an additional 4,258 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Kearny Financial in the fourth quarter valued at $166,000. SG Americas Securities LLC acquired a new position in Kearny Financial in the third quarter valued at $304,000. Finally, Citadel Advisors LLC increased its stake in Kearny Financial by 142.7% in the third quarter. Citadel Advisors LLC now owns 38,557 shares of the savings and loans company’s stock valued at $592,000 after purchasing an additional 22,673 shares during the last quarter. 65.85% of the stock is owned by institutional investors.
KRNY stock opened at $13.00 on Monday. Kearny Financial has a 12-month low of $12.75 and a 12-month high of $15.63. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1,024.96, a price-to-earnings ratio of 56.52 and a beta of 0.53.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, March 6th.
KRNY has been the subject of several analyst reports. BidaskClub lowered Kearny Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $14.00 target price on shares of Kearny Financial in a research note on Friday, December 22nd.
Kearny Financial Company 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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