Kearny Financial (NASDAQ:KRNY) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Kearny Financial (NASDAQ:KRNY) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.87 and traded as high as $8.30. Kearny Financial shares last traded at $8.08, with a volume of 686,197 shares.

Analysts Set New Price Targets

KRNY has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Kearny Financial in a report on Wednesday, January 28th. Piper Sandler boosted their price objective on shares of Kearny Financial from $7.50 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Kearny Financial currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Kearny Financial Trading Down 1.9%

The firm has a fifty day moving average of $7.64 and a 200-day moving average of $6.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.04 and a current ratio of 1.05. The stock has a market capitalization of $523.10 million, a price-to-earnings ratio of 15.54 and a beta of 0.70.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a return on equity of 4.27% and a net margin of 9.41%.The company had revenue of $43.54 million during the quarter, compared to analysts’ expectations of $44.84 million.

Kearny Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $0.44 annualized dividend and a yield of 5.4%. Kearny Financial’s dividend payout ratio (DPR) is 84.62%.

Insider Activity

In other news, EVP Patrick M. Joyce sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total transaction of $30,600.00. Following the transaction, the executive vice president directly owned 54,365 shares of the company’s stock, valued at approximately $415,892.25. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kearny Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its stake in shares of Kearny Financial by 11,688.6% during the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 4,091 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Kearny Financial in the fourth quarter valued at about $74,000. M&T Bank Corp acquired a new stake in Kearny Financial during the 4th quarter valued at approximately $75,000. Focus Partners Wealth purchased a new stake in Kearny Financial during the 3rd quarter worth approximately $76,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Kearny Financial by 18,309.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company’s stock valued at $75,000 after purchasing an additional 11,535 shares in the last quarter. Hedge funds and other institutional investors 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.