Kearny Financial (NASDAQ:KRNY) Reaches New 1-Year High – What’s Next?

Kearny Financial (NASDAQ:KRNY)’s share price hit a new 52-week high on Wednesday . The company traded as high as $8.50 and last traded at $8.2710, with a volume of 10706 shares trading hands. The stock had previously closed at $8.30.

Analysts Set New Price Targets

KRNY has been the topic of several research analyst reports. Weiss Ratings cut Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Piper Sandler assumed coverage on Kearny Financial in a research report on Monday, April 27th. They issued an “overweight” rating and a $9.50 target price on the stock. Finally, Zacks Research raised Kearny Financial to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kearny Financial presently has an average rating of “Hold” and an average target price of $9.50.

Kearny Financial Trading Down 0.4%

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The company has a fifty day simple moving average of $7.83 and a 200-day simple moving average of $7.63. The company has a market capitalization of $535.08 million, a PE ratio of 14.50 and a beta of 0.65.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The business had revenue of $44.31 million for the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. Analysts predict that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 5.3%. The ex-dividend date was Wednesday, May 6th. Kearny Financial’s dividend payout ratio (DPR) is presently 77.19%.

Insider Transactions at Kearny Financial

In other Kearny Financial news, EVP Timothy A. Swansson sold 4,000 shares of Kearny Financial stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total transaction of $30,400.00. Following the transaction, the executive vice president directly owned 55,833 shares of the company’s stock, valued at $424,330.80. The trade was a 6.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.44% of the company’s stock.

Institutional Trading of Kearny Financial

Several hedge funds have recently made changes to their positions in KRNY. EverSource Wealth Advisors LLC increased its holdings in shares of Kearny Financial by 103.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock worth $26,000 after buying an additional 1,753 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 4,091 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after acquiring an additional 1,605 shares during the period. Parallel Advisors LLC grew its position in Kearny Financial by 119.5% in the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after acquiring an additional 3,946 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Kearny Financial by 59.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock worth $64,000 after acquiring an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors 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.