In a recent transaction on August 12, Thomas DeMedici, the Executive Vice President and Chief Compliance Officer of Kearny Financial Corp. (NASDAQ:KRNY), sold shares of the company's stock. The executive offloaded a total of 6,304 shares at prices ranging from $5.99 to $6.02, amounting to over $37,841 in total value.
The series of transactions took place on the same day and involved the sale of shares in different blocks. The largest block of shares sold was for a price of $6.01 per share, while the smallest block went for $5.99 per share. Despite these sales, the filings indicated that DeMedici still holds a significant number of shares in the company, including restricted stock units that are set to vest in the coming years.
Investors often keep an eye on insider transactions as they can provide insights into the executives' perspectives on the company's current valuation and future prospects. It is worth noting that the transactions reported are part of the normal course of business and are required to be disclosed by company insiders.
Kearny Financial Corp., headquartered in Fairfield, New Jersey, operates as a federally chartered savings institution. The company's stock is traded on the NASDAQ exchange, and it has been serving its customers with a range of financial services.
The SEC filing also included information about indirect holdings by DeMedici, which are not required to be reported under Section 16 of the Securities Exchange Act of 1934. These include shares held by 401(k), ESOP, and BEP plans.
As with any insider transaction, the recent sales by DeMedici are a single piece of data that investors might consider as part of their broader analysis of the company's financial health and stock performance.
InvestingPro Insights
As investors digest the news of Thomas DeMedici's recent stock sale in Kearny Financial Corp. (NASDAQ:KRNY), it's crucial to consider the company's broader financial context. InvestingPro provides real-time data and expert insights that may help to understand the potential implications of insider transactions like these.
InvestingPro Tips suggest that Kearny Financial Corp. is expected to see net income growth this year, which could signal a positive outlook for the company's profitability. Additionally, the company has a history of rewarding shareholders, having maintained dividend payments for 10 consecutive years—a testament to its commitment to returning value to its investors. For those interested in dividend income, this could be a particularly pertinent point, especially given the company's significant dividend yield of 7.33% as of the last recorded date.
When examining the financial metrics, the company's Market Cap stands at $373.38M, indicating its size within the financial sector. Despite a challenging period reflected by a negative P/E Ratio of -4.32, analysts predict a turnaround with the company becoming profitable within the year. This aligns with the InvestingPro Tip that underscores the anticipation of net income growth. Furthermore, the company's Price / Book ratio as of the last twelve months is at 0.5, which could suggest that the stock is potentially undervalued relative to its assets.
For a more comprehensive analysis, including additional InvestingPro Tips that could further inform investment strategies, visit https://www.investing.com/pro/KRNY. With a total of six tips listed on InvestingPro, investors can gain deeper insights into Kearny Financial Corp.'s financial health and make more informed decisions.
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