Kearny Financial (NASDAQ:KRNY) Stock Rating Upgraded by Raymond James Financial

Key Points

• Raymond James upgraded Kearny Financial to “moderate buy,” joining other positive analyst revisions. The stock has a consensus “Moderate Buy” rating and an average price target of $10.75.
• Kearny Financial reported quarterly EPS of $0.15, missing the $0.17 consensus estimate, while revenue of $45.69 million slightly exceeded forecasts.
• Insider and institutional interest remains notable: company insiders bought 44,273 shares worth roughly $394,676 over the past 90 days, while institutional investors own 71.01% of outstanding shares.

Kearny Financial (NASDAQ:KRNY - Get Free Report) was upgraded by research analysts at Raymond James Financial to a "moderate buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages have also recently commented on KRNY. Piper Sandler raised their target price on Kearny Financial from $9.50 to $10.50 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Weiss Ratings raised shares of Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Kearny Financial Trading Up 1.7%

Kearny Financial stock opened at $10.01 on Wednesday. The business has a 50 day moving average price of $9.46 and a two-hundred day moving average price of $8.47. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 1.50. Kearny Financial has a 12 month low of $6.22 and a 12 month high of $10.04. The stock has a market cap of $649.94 million, a price-to-earnings ratio of 17.56 and a beta of 0.64.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The firm had revenue of $45.69 million for the quarter, compared to analyst estimates of $45.61 million. Kearny Financial had a return on equity of 4.90% and a net margin of 10.45%. As a group, equities analysts forecast that Kearny Financial will post 0.8 EPS for the current year.

Insider Transactions at Kearny Financial

In other Kearny Financial news, Director Curtland E. Fields bought 14,700 shares of Kearny Financial stock in a transaction dated 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 of the company's stock, valued at $544,839. The trade was a 34.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Melvina Wong-Zaza purchased 3,500 shares of the firm'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 completion of the transaction, the director owned 33,910 shares in the company, valued at $290,608.70. The trade was a 11.51% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 44,273 shares of company stock valued at $394,676. Corporate insiders own 7.44% of the company's stock.

Hedge Funds Weigh In On Kearny Financial

Several institutional investors have recently bought and sold shares of KRNY. BlackRock Inc. acquired a new position in Kearny Financial in the second quarter worth $84,461,000. Vanguard Group Inc. increased its stake in shares of Kearny Financial by 4.2% in the third quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company's stock valued at $22,002,000 after buying an additional 133,683 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Kearny Financial by 36.4% in the fourth quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company's stock valued at $14,993,000 after buying an additional 539,811 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Kearny Financial by 488.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company's stock valued at $11,952,000 after buying an additional 1,339,062 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Kearny Financial by 6.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company's stock valued at $10,851,000 after buying an additional 81,050 shares during the last quarter. 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.

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