Kearny Financial (NASDAQ:KRNY) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Kearny Financial's stock price has recently surpassed its 200-day moving average, trading as high as $6.65 before closing at $6.47.
• The company reported a quarterly earnings miss with EPS of $0.11, falling short of analysts’ expectations of $0.13.
• Kearny Financial's dividend payout ratio is currently at 104.76%, with a declared quarterly dividend of $0.11, representing an annual yield of 6.8%.

Shares of Kearny Financial (NASDAQ:KRNY - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.29 and traded as high as $6.65. Kearny Financial shares last traded at $6.47, with a volume of 354,401 shares traded.

Kearny Financial Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.71. The business has a 50 day simple moving average of $6.35 and a two-hundred day simple moving average of $6.29. The firm has a market cap of $422.17 million, a PE ratio of 15.52 and a beta of 0.77.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The business had revenue of $40.83 million during the quarter, compared to analysts' expectations of $41.16 million. Kearny Financial had a return on equity of 3.49% and a net margin of 7.59%.

Kearny Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.44 annualized dividend and a dividend yield of 6.7%. Kearny Financial's dividend payout ratio (DPR) is currently 104.76%.

Hedge Funds Weigh In On Kearny Financial

Several institutional investors have recently made changes to their positions in KRNY. Fourthstone LLC increased its stake in shares of Kearny Financial by 351.4% during the second quarter. Fourthstone LLC now owns 1,109,666 shares of the savings and loans company's stock valued at $7,168,000 after buying an additional 863,816 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Kearny Financial by 373.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 918,125 shares of the savings and loans company's stock valued at $5,931,000 after buying an additional 724,297 shares during the period. Invesco Ltd. boosted its position in Kearny Financial by 34.6% during the first quarter. Invesco Ltd. now owns 1,179,395 shares of the savings and loans company's stock valued at $7,383,000 after purchasing an additional 303,391 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Kearny Financial by 25.0% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,278,390 shares of the savings and loans company's stock valued at $8,003,000 after purchasing an additional 255,460 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Kearny Financial by 3.6% during the first quarter. Vanguard Group Inc. now owns 3,166,121 shares of the savings and loans company's stock valued at $19,820,000 after purchasing an additional 111,390 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

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.