Kearny Financial (NASDAQ:KRNY) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Kearny Financial (NASDAQ:KRNY)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.22 and traded as high as $7.46. Kearny Financial shares last traded at $7.37, with a volume of 394,688 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KRNY. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kearny Financial in a report on Wednesday, January 28th. Piper Sandler raised their target price on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.00.

Kearny Financial Stock Performance

The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average price of $7.74 and a two-hundred day moving average price of $7.22. The company has a market cap of $477.13 million, a P/E ratio of 14.17 and a beta of 0.69.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings data on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The business had revenue of $43.54 million during the quarter, compared to the consensus estimate of $44.84 million. Kearny Financial had a return on equity of 4.26% and a net margin of 9.41%.

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.44 annualized dividend and a dividend yield of 6.0%. Kearny Financial’s dividend payout ratio is presently 84.62%.

Insider Transactions at Kearny Financial

In related news, EVP Patrick M. Joyce sold 4,000 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total value of $30,600.00. Following the completion of the transaction, the executive vice president owned 54,365 shares in the company, valued at $415,892.25. This represents a 6.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Swansson sold 4,000 shares of the firm’s 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 in the company, valued at approximately $424,330.80. The trade was a 6.69% decrease in their position. The SEC filing for this sale provides additional information. 7.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KRNY. EverSource Wealth Advisors LLC increased its stake in shares of Kearny Financial by 103.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after acquiring an additional 1,753 shares during the period. Osaic Holdings Inc. lifted its position 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 worth $27,000 after purchasing an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co lifted 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 purchasing an additional 1,605 shares during the period. New York State Common Retirement Fund boosted its stake in Kearny Financial by 59.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock valued at $64,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in Kearny Financial during the 4th quarter valued at $74,000. 71.01% of the stock is currently owned by institutional investors.

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.