Kearny Financial (NASDAQ:KRNY) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Kearny Financial (NASDAQ:KRNY) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.31 and traded as high as $6.70. Kearny Financial shares last traded at $6.69, with a volume of 279,044 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Kearny Financial in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.75.

Kearny Financial Price Performance

The stock has a market cap of $433.18 million, a P/E ratio of 15.93 and a beta of 0.75. The company has a 50 day simple moving average of $6.43 and a 200 day simple moving average of $6.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Kearny Financial had a return on equity of 3.49% and a net margin of 7.59%.The company had revenue of $40.83 million for the quarter, compared to the consensus estimate of $41.16 million.

Kearny Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.6%. Kearny Financial’s dividend payout ratio is currently 104.76%.

Insider Activity

In related news, Director Leopold W. Montanaro acquired 10,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were bought at an average price of $6.57 per share, for a total transaction of $65,700.00. Following the purchase, the director directly owned 265,227 shares in the company, valued at approximately $1,742,541.39. This trade represents a 3.92% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kearny Financial

A number of institutional investors and hedge funds have recently made changes to their positions in KRNY. Osaic Holdings Inc. raised its stake in shares of Kearny Financial by 11,688.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 4,091 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Kearny Financial by 119.6% during the 1st quarter. GAMMA Investing LLC now owns 6,355 shares of the savings and loans company’s stock worth $40,000 after purchasing an additional 3,461 shares in the last quarter. State of Wyoming acquired a new position in shares of Kearny Financial during the 1st quarter worth approximately $49,000. Entropy Technologies LP acquired a new position in shares of Kearny Financial during the 1st quarter worth approximately $68,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Kearny Financial by 18,309.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company’s stock worth $75,000 after acquiring an additional 11,535 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

About Kearny Financial

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.