Kearny Financial (NASDAQ:KRNY) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Kearny Financial shares moved above their 200-day moving average, trading as high as $9.42 and last changing hands at $9.37, suggesting recent upward momentum in the stock.
• Analysts have become more constructive on the name: Piper Sandler lifted its target to $10.50 with an overweight rating, and the stock now carries a consensus Moderate Buy rating.
• The company reported quarterly EPS of $0.15, matching expectations, and continues to pay a quarterly dividend of $0.11 per share, implying an annualized yield of about 4.7%.

Kearny Financial (NASDAQ:KRNY - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.04 and traded as high as $9.42. Kearny Financial shares last traded at $9.37, with a volume of 403,415 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KRNY shares. Piper Sandler raised their price target on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Weiss Ratings raised shares of Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, June 29th. Finally, Zacks Research upgraded Kearny Financial to a "hold" rating in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.50.

Kearny Financial Stock Up 0.4%

The business has a 50-day moving average of $8.56 and a 200-day moving average of $8.04. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $606.61 million, a price-to-earnings ratio of 16.44 and a beta of 0.64.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $44.31 million for the quarter, compared to analyst estimates of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. On average, sell-side analysts expect that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial's payout ratio is 77.19%.

Insider Buying and Selling

In related news, Director Curtland E. Fields acquired 3,600 shares of the firm's stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $8.41 per share, for a total transaction of $30,276.00. Following the acquisition, the director owned 43,200 shares in the company, valued at $363,312. The trade was a 9.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Melvina Wong-Zaza acquired 3,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $8.57 per share, with a total value of $29,995.00. Following the transaction, the director directly owned 33,910 shares in the company, valued at $290,608.70. This trade represents a 11.51% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 24,800 shares of company stock worth $211,196 over the last three months. Insiders own 7.44% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Kearny Financial by 4.2% during the third quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company's stock worth $22,002,000 after buying an additional 133,683 shares during the period. AQR Capital Management LLC raised its holdings in shares of Kearny Financial by 36.4% in the 4th 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 during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Kearny Financial by 488.8% in the 4th 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 during the period. Arrowstreet Capital Limited Partnership lifted its stake in Kearny Financial by 6.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company's stock worth $10,851,000 after acquiring an additional 81,050 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Kearny Financial by 2.3% during the 2nd quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company's stock worth $7,796,000 after acquiring an additional 27,460 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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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