Kearny Financial (NASDAQ:KRNY) Short Interest Update

Kearny Financial (NASDAQ:KRNY) was the recipient of a significant growth in short interest in January. As of January 30th, there was short interest totaling 695,117 shares, a growth of 20.7% from the January 15th total of 575,815 shares. Based on an average daily volume of 475,829 shares, the short-interest ratio is currently 1.5 days. Approximately 1.2% of the company’s stock are short sold. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 475,829 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KRNY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kearny Financial in a research note on Wednesday, January 28th. Piper Sandler lifted their target price 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 analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.00.

Insiders Place Their Bets

In other Kearny Financial news, EVP Patrick M. Joyce sold 4,000 shares of the stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.44% of the company’s stock.

Institutional Investors Weigh In On Kearny Financial

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

Kearny Financial Stock Performance

Shares of NASDAQ KRNY opened at $8.08 on Thursday. Kearny Financial has a 12 month low of $5.45 and a 12 month high of $8.50. The company has a market cap of $523.10 million, a P/E ratio of 15.54 and a beta of 0.70. The business’s 50 day moving average is $7.81 and its two-hundred day moving average is $7.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45.

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

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, February 4th. This represents a $0.44 annualized dividend and a dividend yield of 5.4%. Kearny Financial’s payout ratio is presently 84.62%.

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.