Kearny Financial (NASDAQ:KRNY) Sets New 52-Week High – Should You Buy?

Kearny Financial (NASDAQ:KRNY)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $9.66 and last traded at $9.4250, with a volume of 645435 shares. The stock had previously closed at $9.37.

Analyst Ratings Changes

KRNY has been the subject of several analyst reports. Zacks Research raised shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. Finally, Piper Sandler increased their price target on shares of Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.50.

Kearny Financial Trading Down 0.4%

The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day simple moving average of $8.40 and a two-hundred day simple moving average of $7.97. The stock has a market cap of $615.09 million, a price-to-earnings ratio of 16.57 and a beta of 0.64.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $44.31 million during the quarter, compared to analysts’ expectations of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. Equities analysts forecast that Kearny Financial will post 0.61 EPS for the current fiscal year.

Kearny Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 annualized dividend and a yield of 4.6%. Kearny Financial’s dividend payout ratio (DPR) is currently 77.19%.

Insiders Place Their Bets

In related news, Director Curtland E. Fields bought 4,950 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was bought at an average price of $8.34 per share, for a total transaction of $41,283.00. Following the purchase, the director owned 39,600 shares in the company, valued at $330,264. This represents a 14.29% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Melvina Wong-Zaza bought 3,500 shares of Kearny Financial stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $8.57 per share, with a total value of $29,995.00. Following the acquisition, the director directly owned 33,910 shares in the company, valued at $290,608.70. This trade represents a 11.51% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 24,800 shares of company stock valued at $211,196. Company insiders own 7.44% of the company’s stock.

Institutional Investors Weigh In On Kearny Financial

A number of institutional investors have recently made changes to their positions in the company. M&T Bank Corp bought a new position in shares of Kearny Financial during the fourth quarter worth approximately $1,145,000. Bailard Inc. acquired a new position in Kearny Financial in the 4th quarter valued at $711,000. ProShare Advisors LLC acquired a new position in Kearny Financial in the 4th quarter valued at $78,000. Ballentine Partners LLC bought a new position in Kearny Financial during the 4th quarter worth $87,000. Finally, Merit Financial Group LLC bought a new position in Kearny Financial during the 4th quarter worth $88,000. Institutional investors own 71.01% of the company’s stock.

About Kearny Financial

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.