Kearny Financial (NASDAQ:KRNY) Shares Cross Above 200 Day Moving Average Following Weak Earnings

Kearny Financial (NASDAQ:KRNY - Get Free Report) shares passed above its 200-day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a 200-day moving average of $6.51 and traded as high as $6.54. Kearny Financial shares last traded at $6.17, with a volume of 858,794 shares trading hands.

The savings and loans company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Kearny Financial had a positive return on equity of 3.32% and a negative net margin of 20.40%.

Kearny Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 7.13%. Kearny Financial's payout ratio is currently -38.60%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price target on Kearny Financial from $7.25 to $7.00 and set a "market perform" rating for the company in a research report on Tuesday, April 29th.

Institutional Investors Weigh In On Kearny Financial

A number of institutional investors have recently modified their holdings of the business. Quantbot Technologies LP increased its stake in Kearny Financial by 13.1% in the 4th quarter. Quantbot Technologies LP now owns 12,784 shares of the savings and loans company's stock valued at $91,000 after buying an additional 1,476 shares during the period. Aigen Investment Management LP boosted its holdings in shares of Kearny Financial by 11.1% during the 1st quarter. Aigen Investment Management LP now owns 18,012 shares of the savings and loans company's stock worth $113,000 after buying an additional 1,803 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Kearny Financial by 0.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 566,426 shares of the savings and loans company's stock worth $4,010,000 after buying an additional 1,854 shares during the period. First Trust Advisors LP boosted its holdings in shares of Kearny Financial by 6.8% during the 4th quarter. First Trust Advisors LP now owns 41,710 shares of the savings and loans company's stock worth $295,000 after buying an additional 2,640 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Kearny Financial by 119.6% in the 1st quarter. GAMMA Investing LLC now owns 6,355 shares of the savings and loans company's stock valued at $40,000 after purchasing an additional 3,461 shares during the period. Institutional investors own 71.01% of the company's stock.

Kearny Financial Trading Down 5.7%

The business's fifty day simple moving average is $6.33 and its two-hundred day simple moving average is $6.50. The stock has a market capitalization of $398.46 million, a P/E ratio of -5.41 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.65.

About Kearny Financial

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.

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