Kearny Financial (NASDAQ:KRNY) Price Target Lowered to $7.00 at Keefe, Bruyette & Woods

Kearny Financial (NASDAQ:KRNY - Get Free Report) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $7.25 to $7.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "market perform" rating on the savings and loans company's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 8.02% from the company's previous close.

Separately, Piper Sandler upgraded shares of Kearny Financial from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $9.00 to $8.50 in a research report on Monday, January 6th.

Kearny Financial Trading Up 3.2 %

NASDAQ:KRNY traded up $0.20 during trading hours on Tuesday, hitting $6.48. 200,147 shares of the company were exchanged, compared to its average volume of 380,507. The stock has a market capitalization of $418.48 million, a price-to-earnings ratio of -5.73 and a beta of 0.70. Kearny Financial has a one year low of $5.31 and a one year high of $8.59. The company has a fifty day simple moving average of $6.25 and a 200 day simple moving average of $7.03. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.69.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its earnings results on Thursday, April 24th. The savings and loans company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. Kearny Financial had a positive return on equity of 3.31% and a negative net margin of 20.05%. The business had revenue of $38.60 million for the quarter, compared to analysts' expectations of $38.71 million.

Insider Transactions at Kearny Financial

In other news, Director Melvina Wong-Zaza purchased 5,000 shares of the business's stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $7.23 per share, for a total transaction of $36,150.00. Following the completion of the acquisition, the director now owns 27,535 shares in the company, valued at approximately $199,078.05. The trade was a 22.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.56% of the company's stock.

Hedge Funds Weigh In On Kearny Financial

Institutional investors have recently modified their holdings of the company. CWM LLC increased its stake in Kearny Financial by 35.2% during the 1st quarter. CWM LLC now owns 55,179 shares of the savings and loans company's stock valued at $345,000 after purchasing an additional 14,377 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Kearny Financial by 42.6% in the first quarter. Cerity Partners LLC now owns 41,637 shares of the savings and loans company's stock valued at $261,000 after buying an additional 12,443 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Kearny Financial by 11.0% during the first quarter. Bank of New York Mellon Corp now owns 370,916 shares of the savings and loans company's stock valued at $2,322,000 after buying an additional 36,711 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Kearny Financial by 43.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,828 shares of the savings and loans company's stock worth $168,000 after acquiring an additional 8,164 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Kearny Financial by 119.6% in the 1st quarter. GAMMA Investing LLC now owns 6,355 shares of the savings and loans company's stock worth $40,000 after acquiring an additional 3,461 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Kearny Financial Company Profile

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.