Kearny Financial (NASDAQ:KRNY) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Shares of Kearny Financial (NASDAQ:KRNY - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.31 and traded as high as $6.70. Kearny Financial shares last traded at $6.69, with a volume of 279,044 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Kearny Financial in a research report on Wednesday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.75.

Kearny Financial Price Performance

The company has a market capitalization of $433.18 million, a price-to-earnings ratio of 15.93 and a beta of 0.75. The company has a 50-day moving average price of $6.43 and a 200-day moving average price of $6.31. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.05.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last posted its earnings results on Thursday, July 24th. 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). The company had revenue of $40.83 million for the quarter, compared to analyst estimates of $41.16 million. Kearny Financial had a return on equity of 3.49% and a net margin of 7.59%.

Kearny Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Tuesday, August 12th. Kearny Financial's payout ratio is presently 104.76%.

Insider Activity

In related news, Director Leopold W. Montanaro bought 10,000 shares of the firm's stock in a transaction dated Friday, September 19th. The stock was bought at an average cost of $6.57 per share, for a total transaction of $65,700.00. Following the transaction, the director owned 265,227 shares of the company's stock, valued at $1,742,541.39. This represents a 3.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.44% of the company's stock.

Hedge Funds Weigh In On Kearny Financial

Several institutional investors and hedge funds have recently modified their holdings of KRNY. Osaic Holdings Inc. grew its position in shares of Kearny Financial by 11,688.6% in the 2nd 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 during the period. GAMMA Investing LLC grew its position in shares of 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. State of Wyoming acquired a new position in shares of Kearny Financial in the 1st quarter valued at approximately $49,000. Entropy Technologies LP acquired a new position in shares of Kearny Financial in the 1st quarter valued at approximately $68,000. Finally, Nisa Investment Advisors LLC grew 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 during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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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