Kearny Financial's (KRNY) "Hold (C-)" Rating Reiterated at Weiss Ratings

Key Points

• Kearny Financial's stock received a "Hold (C-)" rating from Weiss Ratings, indicating a neutral outlook from analysts.
• In the latest quarterly earnings report, Kearny Financial posted $0.11 earnings per share (EPS), falling short of the consensus estimate of $0.13.
• Insider activity includes a recent purchase by Director Leopold W. Montanaro, who acquired 10,000 shares at an average price of $6.57, increasing his position in the company.

Kearny Financial (NASDAQ:KRNY - Get Free Report)'s stock had its "hold (c-)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Kearny Financial Price Performance

Shares of Kearny Financial stock opened at $6.70 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.05 and a quick ratio of 1.05. Kearny Financial has a fifty-two week low of $5.45 and a fifty-two week high of $8.59. The firm has a fifty day moving average price of $6.41 and a two-hundred day moving average price of $6.31. The company has a market cap of $433.79 million, a PE ratio of 15.95 and a beta of 0.75.

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

Insider Activity

In other news, Director Leopold W. Montanaro acquired 10,000 shares of the stock in a transaction dated Friday, September 19th. The shares were acquired at an average cost of $6.57 per share, for a total transaction of $65,700.00. Following the completion of the transaction, the director owned 265,227 shares in the company, valued at approximately $1,742,541.39. This trade represents a 3.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.44% of the company's stock.

Hedge Funds Weigh In On Kearny Financial

A number of hedge funds have recently made changes to their positions in KRNY. Vanguard Group Inc. lifted its holdings in shares of Kearny Financial by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 3,166,121 shares of the savings and loans company's stock worth $19,820,000 after acquiring an additional 111,390 shares during the period. Geode Capital Management LLC raised its position in Kearny Financial by 1.1% in the second quarter. Geode Capital Management LLC now owns 1,409,239 shares of the savings and loans company's stock worth $9,105,000 after purchasing an additional 15,162 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake 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 worth $8,003,000 after purchasing an additional 255,460 shares during the period. Invesco Ltd. boosted its holdings in Kearny Financial by 2.3% during the second quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company's stock valued at $7,796,000 after purchasing an additional 27,460 shares in the last quarter. Finally, Fourthstone LLC grew its stake in shares of Kearny Financial by 351.4% in the 2nd quarter. Fourthstone LLC now owns 1,109,666 shares of the savings and loans company's stock valued at $7,168,000 after purchasing an additional 863,816 shares during the period. Institutional investors and hedge funds 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.

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