Stock traders buy high volume call options from Kearny Financial (NASDAQ: KRNY)

Kearny Financial Corp. (NASDAQ:KRNY) was the target of unusual options trading activity on Friday. Equity investors bought 2,158 call options on the stock. This represents an increase of approximately 15,314% over the average daily volume of 14 call options.

Shares of KRNY traded at $0.12 during Friday trading hours, reaching $13.33. The company had a trading volume of 53,671 shares, compared to an average volume of 308,809. The company has a 50-day simple moving average of $13.20 and a 200-day simple moving average of $12.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt ratio of 0.71. The company has a market capitalization of $1.00 billion, a price-earnings ratio of 13.76 and a beta of 0.78. Kearny Financial has a 12 month low of $10.69 and a 12 month high of $13.89.

Kearny Financial (NASDAQ:KRNY) last reported quarterly results on Thursday, January 27. The savings and loan company reported earnings per share (EPS) of $0.26 for the quarter, beating the Zacks consensus estimate of $0.22 by $0.04. Kearny Financial had a net margin of 29.83% and a return on equity of 7.17%. In the same period a year earlier, the company posted earnings per share of $0.20.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 23. Shareholders of record on Wednesday, February 9 will receive a dividend of $0.11 per share. The ex-dividend date is Tuesday, February 8. This represents an annualized dividend of $0.44 and a yield of 3.30%. Kearny Financial’s dividend payout ratio (DPR) is currently 45.83%.

Separately, Piper Sandler downgraded Kearny Financial shares from an “overweight” rating to a “neutral” rating and set a price target of $14.00 for the company. in a research report on Thursday, January 6.

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Separately, director John J. Mazur, Jr. sold 4,000 shares in a trade on Monday, December 20. The shares were sold at an average price of $12.44, for a total transaction of $49,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, director John F. Regan sold 7,000 shares in a trade on Wednesday, December 15. The stock was sold at an average price of $12.70, for a total transaction of $88,900.00. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 21,150 shares of the company valued at $268,490. Insiders of the company own 6.23% of the shares of the company.

Major investors have recently been buying and selling shares of the company. Hennessy Advisors Inc. increased its stake in Kearny Financial by 2.7% during the third quarter. Hennessy Advisors Inc. now owns 375,000 shares of the savings and loan company valued at $4,661,000 after acquiring 10,000 additional shares last quarter. LSV Asset Management increased its stake in Kearny Financial by 79.2% during the third quarter. LSV Asset Management now owns 257,000 shares of the savings and loan company valued at $3,194,000 after acquiring an additional 113,600 shares last quarter. The State Board of Administration of Florida Retirement System increased its stake in Kearny Financial by 9.2% during the third quarter. The Florida Retirement System State Board of Directors now owns 35,265 shares of the savings and loan company valued at $438,000 after acquiring 2,977 additional shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Kearny Financial by 21.2% during the second quarter. Qube Research & Technologies Ltd now owns 33,960 shares in the savings and loan company valued at $406,000 after acquiring an additional 5,930 shares in the last quarter. Finally, Creative Planning purchased a new position at Kearny Financial during Q3 valued at approximately $223,000. Hedge funds and other institutional investors hold 63.12% of the company’s shares.

About Kearny Financial

Kearny Financial Corp. operates as a holding company. The company engages in the ownership and operation of the bank. Its services include consumer deposits in New Jersey. The company uses deposits, along with other funds, to originate or purchase loans for its portfolio and to invest in securities.

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