Kearny Financial (NASDAQ:KRNY) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Kearny Financial (NASDAQ:KRNY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.31 and traded as high as $9.52. Kearny Financial shares last traded at $9.46, with a volume of 378,902 shares changing hands.

Analyst Upgrades and Downgrades

KRNY has been the subject of several recent research reports. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 14th. Piper Sandler lifted 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. Finally, Zacks Research raised shares of Kearny Financial to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.50.

Kearny Financial Stock Performance

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. The stock has a 50 day simple moving average of $9.16 and a two-hundred day simple moving average of $8.32. The stock has a market capitalization of $616.97 million, a P/E ratio of 16.72 and a beta of 0.64.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $45.69 million for the quarter, compared to the consensus estimate of $45.61 million. Kearny Financial had a return on equity of 4.92% and a net margin of 10.45%. On average, equities analysts forecast that Kearny Financial will post 0.8 EPS for the current fiscal year.

Kearny Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, August 12th. Kearny Financial’s dividend payout ratio is 77.19%.

Insider Buying and Selling at Kearny Financial

In other Kearny Financial news, Director Melvina Wong-Zaza purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $29,995.00. Following the purchase, the director owned 33,910 shares in the company, valued at approximately $290,608.70. The trade was a 11.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Curtland E. Fields purchased 14,700 shares of the business’s stock in a transaction on Monday, July 27th. The shares were acquired at an average cost of $9.41 per share, with a total value of $138,327.00. Following the acquisition, the director directly owned 57,900 shares in the company, valued at approximately $544,839. The trade was a 34.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 44,273 shares of company stock worth $394,676 over the last quarter. 7.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kearny Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Kearny Financial by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 729,773 shares of the savings and loans company’s stock valued at $4,568,000 after purchasing an additional 54,606 shares during the period. Caxton Associates LLP bought a new stake in shares of Kearny Financial in the first quarter valued at about $146,000. Empowered Funds LLC grew its stake in shares of Kearny Financial by 8.7% in the first quarter. Empowered Funds LLC now owns 181,165 shares of the savings and loans company’s stock valued at $1,134,000 after acquiring an additional 14,427 shares in the last quarter. Jane Street Group LLC increased its position in Kearny Financial by 95.0% during the first quarter. Jane Street Group LLC now owns 152,595 shares of the savings and loans company’s stock worth $955,000 after acquiring an additional 74,349 shares during the period. Finally, Rhumbline Advisers increased its position in Kearny Financial by 5.1% during the second quarter. Rhumbline Advisers now owns 89,669 shares of the savings and loans company’s stock worth $579,000 after acquiring an additional 4,340 shares during the period. 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.