Kearny Financial Shares Slide 10.0% Below Wong-zaza's Purchase Price

By Dividend Channel Staff, Monday, March 18, 10:07 AM ET

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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 14, Kearny Financial Corp's Director, Melvina Wong-zaza, invested $25,514.60 into 3,945 shares of KRNY, for a cost per share of $6.47. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Monday, bargain hunters could buy shares of Kearny Financial Corp (NASDAQ:KRNY) and achieve a cost basis 10.0% cheaper than Wong-zaza, with shares changing hands as low as $5.82 per share. Kearny Financial Corp shares are currently trading up about 0.5% on the day. The chart below shows the one year performance of KRNY shares, versus its 200 day moving average:

Kearny Financial Corp Chart

Looking at the chart above, KRNY's low point in its 52 week range is $5.82 per share, with $9.46 as the 52 week high point — that compares with a last trade of $5.84. By comparison, below is a table showing the prices at which KRNY insider buying was recorded over the last six months:

Purchased	Insider	Title	Shares	Price/Share	Value
11/01/2023	Melvina Wong-zaza	Director	1,600	$6.97	$11,152.00
02/08/2024	Christopher Petermann	Director	10,000	$6.14	$61,370.06
02/14/2024	Melvina Wong-zaza	Director	3,945	$6.47	$25,514.60

The current annualized dividend paid by Kearny Financial Corp is $0.44/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/06/2024. Below is a long-term dividend history chart for KRNY, which can be of good help in judging whether the most recent dividend with approx. 7.4% annualized yield is likely to continue.

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Kearny Financial Shares Slide 10.0% Below Wong-zaza's Purchase Price

Kearny Financial Shares Slide 10.0% Below Wong-zaza's Purchase Price | www.DividendChannel.com