Kearny Financial (NASDAQ:KRNY) Rating Lowered to “Strong Sell” at Zacks Research

Kearny Financial (NASDAQ:KRNY) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings upgraded shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 24th. Raymond James Financial reiterated an “outperform” rating and set a $10.50 target price on shares of Kearny Financial in a report on Monday. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.50.

Kearny Financial Stock Up 0.1%

NASDAQ:KRNY opened at $9.26 on Monday. The firm’s 50-day moving average price is $9.48 and its 200-day moving average price is $8.61. Kearny Financial has a 1-year low of $6.22 and a 1-year high of $10.23.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings results on Thursday, October 22nd. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $45.28 million for the quarter, compared to the consensus estimate of $46.97 million. As a group, sell-side analysts predict that Kearny Financial will post 0.75 EPS for the current fiscal year.

Insider Activity at Kearny Financial

In other news, Director Leopold W. Montanaro acquired 4,773 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $9.46 per share, for a total transaction of $45,152.58. Following the acquisition, the director directly owned 270,000 shares in the company, valued at approximately $2,554,200. The trade was a 1.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 7.68% of the stock is currently owned by insiders.

Institutional Trading of Kearny Financial

Several institutional investors have recently added to or reduced their stakes in KRNY. Allworth Financial LP purchased a new position in shares of Kearny Financial in the second quarter worth $27,000. GAMMA Investing LLC boosted its position in shares of Kearny Financial by 100.9% during the third quarter. GAMMA Investing LLC now owns 3,675 shares of the savings and loans company’s stock valued at $34,000 after buying an additional 1,846 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Kearny Financial during the second quarter valued at $54,000. Parallel Advisors LLC boosted its position in shares of Kearny Financial by 119.5% during the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after buying an additional 3,946 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in Kearny Financial by 890.1% in the 3rd quarter. Fortitude Family Office LLC now owns 6,218 shares of the savings and loans company’s stock worth $57,000 after buying an additional 5,590 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Kearny Financial Company Profile

Kearny Financial Corp. is the holding company for Kearny Bank, a community-focused financial institution headquartered in Fairfield, New Jersey. The bank provides a range of banking and financial services to individuals, families, businesses and nonprofit organizations.

Kearny Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, commercial real estate financing, business loans, construction loans and consumer lending.