Kearny Financial (NASDAQ:KRNY) Upgraded by Zacks Research to "Hold" Rating

Kearny Financial (NASDAQ:KRNY - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on KRNY. Piper Sandler assumed coverage on Kearny Financial in a report on Monday. They issued an "overweight" rating and a $9.50 target price for the company. Weiss Ratings raised Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $9.50.

Kearny Financial Stock Up 1.4%

Shares of NASDAQ KRNY opened at $8.25 on Monday. The company has a market capitalization of $534.11 million, a price-to-earnings ratio of 14.47 and a beta of 0.66. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day moving average of $7.71 and a two-hundred day moving average of $7.43. Kearny Financial has a 1 year low of $5.76 and a 1 year high of $8.50.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.15. The company 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, analysts forecast that Kearny Financial will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at Kearny Financial

In related 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 value of $30,400.00. Following the transaction, the executive vice president owned 55,833 shares in the company, valued at $424,330.80. The trade was a 6.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kearny Financial

Several institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co increased its position in Kearny Financial by 35.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company's stock valued at $45,000 after acquiring an additional 1,605 shares during the period. Russell Investments Group Ltd. increased its position in Kearny Financial by 15.6% in the 4th quarter. Russell Investments Group Ltd. now owns 11,930 shares of the savings and loans company's stock valued at $88,000 after acquiring an additional 1,610 shares during the period. First Trust Advisors LP increased its position in Kearny Financial by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company's stock valued at $276,000 after acquiring an additional 1,668 shares during the period. EverSource Wealth Advisors LLC increased its position in Kearny Financial by 103.4% in the 4th 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. Finally, Quantinno Capital Management LP increased its position in Kearny Financial by 4.1% in the 2nd quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company's stock valued at $305,000 after acquiring an additional 1,865 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

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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