Kearny Financial (NASDAQ:KRNY) Upgraded at Piper Sandler

Key Points

• Piper Sandler upgraded Kearny Financial (KRNY) to a "strong-buy" and Weiss Ratings raised it to a "buy," leaving the consensus rating at "Buy" with a $8.25 target price.
• Shares rose about 4.5% and opened at $8.14; the company has a market cap of $526.98 million, a P/E of 14.28, and a 52-week range of $5.76–$8.50.
• Kearny reported Q1 EPS of $0.15, matching estimates, and revenue of $44.31 million, slightly above expectations, with a 4.62% ROE and 10.39% net margin.

Kearny Financial (NASDAQ:KRNY - Get Free Report) was upgraded by analysts at Piper Sandler to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings upgraded shares of Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Kearny Financial has an average rating of "Buy" and a consensus target price of $8.25.

Kearny Financial Stock Up 4.5%

Shares of Kearny Financial stock opened at $8.14 on Monday. The firm has a market cap of $526.98 million, a price-to-earnings ratio of 14.28 and a beta of 0.66. The stock has a 50-day simple moving average of $7.70 and a 200-day simple moving average of $7.42. Kearny Financial has a 52-week low of $5.76 and a 52-week high of $8.50. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. The firm had revenue of $44.31 million for 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%.

Insider Buying and Selling

In other news, EVP Timothy A. Swansson sold 4,000 shares of Kearny Financial stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total value of $30,400.00. Following the transaction, the executive vice president owned 55,833 shares of the company's stock, valued at $424,330.80. This trade represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick M. Joyce sold 4,000 shares of the business's stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $7.65, for a total transaction of $30,600.00. Following the completion of the sale, the executive vice president owned 54,365 shares of the company's stock, valued at $415,892.25. The trade was a 6.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Kearny Financial by 103.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company's stock valued at $26,000 after acquiring an additional 1,753 shares during the period. Osaic Holdings Inc. increased its stake in shares of Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company's stock worth $27,000 after purchasing an additional 4,091 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Kearny Financial by 35.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company's stock worth $45,000 after purchasing an additional 1,605 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Kearny Financial by 59.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company's stock worth $64,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Kearny Financial during the 4th quarter valued at approximately $74,000. Institutional investors own 71.01% of the company's stock.

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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