Kearny Financial (NASDAQ:KRNY) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Kearny Financial (NASDAQ:KRNY - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.49 and traded as high as $8.20. Kearny Financial shares last traded at $8.16, with a volume of 424,467 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on KRNY shares. Zacks Research upgraded Kearny Financial to a "hold" rating in a report on Monday, April 27th. Weiss Ratings upgraded Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 22nd. Finally, Piper Sandler started coverage on Kearny Financial in a report on Monday, April 27th. They issued an "overweight" rating and a $9.50 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

Kearny Financial Price Performance

The firm has a fifty day moving average of $7.71 and a 200 day moving average of $7.49. The company has a market capitalization of $528.28 million, a P/E ratio of 14.32 and a beta of 0.65. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.15. The business had revenue of $44.31 million during the quarter, compared to the consensus estimate of $43.67 million. Kearny Financial had a return on equity of 4.62% and a net margin of 10.39%. On average, equities research analysts anticipate that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Wednesday, May 6th. Kearny Financial's payout ratio is currently 77.19%.

Insider Activity

In other Kearny Financial news, EVP Timothy A. Swansson sold 4,000 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.60, for a total transaction of $30,400.00. Following the completion of the sale, the executive vice president directly owned 55,833 shares in the company, valued at $424,330.80. The trade was a 6.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kearny Financial

A number of large investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of Kearny Financial by 119.5% during the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company's stock valued at $55,000 after purchasing an additional 3,946 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Kearny Financial by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 372,168 shares of the savings and loans company's stock valued at $2,810,000 after purchasing an additional 12,128 shares during the period. Strs Ohio grew its stake in shares of Kearny Financial by 6.8% during the 1st quarter. Strs Ohio now owns 82,000 shares of the savings and loans company's stock valued at $619,000 after purchasing an additional 5,200 shares during the period. Corient Private Wealth LLC grew its stake in shares of Kearny Financial by 13.9% during the 4th quarter. Corient Private Wealth LLC now owns 25,792 shares of the savings and loans company's stock valued at $191,000 after purchasing an additional 3,144 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Kearny Financial by 36.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,996 shares of the savings and loans company's stock valued at $289,000 after purchasing an additional 10,326 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Kearny Financial Company Profile

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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