Kearny Financial (NASDAQ:KRNY) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Kearny Financial (NASDAQ:KRNY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.93 and traded as high as $8.13. Kearny Financial shares last traded at $8.00, with a volume of 262,597 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kearny Financial in a research note on Wednesday, January 28th. Piper Sandler upped their price objective on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kearny Financial presently has an average rating of “Hold” and a consensus price target of $8.00.

Kearny Financial Trading Down 0.2%

The company has a 50 day moving average of $7.76 and a 200 day moving average of $6.93. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $517.92 million, a price-to-earnings ratio of 15.38 and a beta of 0.70.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $43.54 million for the quarter, compared to analyst estimates of $44.84 million. Kearny Financial had a return on equity of 4.26% and a net margin of 9.41%.

Kearny Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $0.44 dividend on an annualized basis and a yield of 5.5%. Kearny Financial’s dividend payout ratio is presently 84.62%.

Insiders Place Their Bets

In other news, EVP Patrick M. Joyce sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $7.65, for a total transaction of $30,600.00. Following the transaction, the executive vice president directly owned 54,365 shares in the company, valued at $415,892.25. The trade was a 6.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kearny Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRNY. First Trust Advisors LP increased its stake in shares of Kearny Financial by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company’s stock worth $276,000 after acquiring an additional 1,668 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Kearny Financial by 103.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock worth $26,000 after purchasing an additional 1,753 shares during the last quarter. Quantinno Capital Management LP increased its position in Kearny Financial by 4.1% during the second quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company’s stock worth $305,000 after purchasing an additional 1,865 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in Kearny Financial by 14.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 19,000 shares of the savings and loans company’s stock worth $141,000 after purchasing an additional 2,367 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Kearny Financial by 11.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,825 shares of the savings and loans company’s stock valued at $147,000 after purchasing an additional 2,383 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Kearny Financial Company Profile

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company’s core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.