Kearny Financial (NASDAQ:KRNY - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $10.07 and last traded at $10.0650, with a volume of 403716 shares changing hands. The stock had previously closed at $9.77.
Analysts Set New Price Targets
A number of analysts recently issued reports on KRNY shares. Raymond James Financial initiated coverage on Kearny Financial in a research note on Wednesday, August 26th. They set an "outperform" rating and a $11.00 price objective on the stock. Piper Sandler boosted their target price on Kearny Financial from $9.50 to $10.50 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Finally, Weiss Ratings upgraded Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Kearny Financial has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.
Check Out Our Latest Research Report on Kearny Financial
Kearny Financial Price Performance
The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50-day moving average of $9.54 and a 200-day moving average of $8.51. The firm has a market capitalization of $652.87 million, a P/E ratio of 17.64 and a beta of 0.63.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). Kearny Financial had a return on equity of 4.90% and a net margin of 10.45%.The business had revenue of $45.69 million during the quarter, compared to the consensus estimate of $45.61 million. As a group, analysts predict that Kearny Financial will post 0.79 EPS for the current year.
Kearny Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a $0.11 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.44 annualized dividend and a yield of 4.4%. Kearny Financial's dividend payout ratio (DPR) is currently 77.19%.
Insider Activity
In other Kearny Financial news, Director Leopold W. Montanaro bought 4,773 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $9.46 per share, for a total transaction of $45,152.58. Following the completion of the transaction, the director owned 270,000 shares in the company, valued at $2,554,200. This trade represents a 1.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Curtland E. Fields acquired 14,700 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The shares were bought at an average price of $9.41 per share, with a total value of $138,327.00. Following the acquisition, the director directly owned 57,900 shares in the company, valued at $544,839. This represents a 34.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 44,273 shares of company stock valued at $394,676. 7.44% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in KRNY. Allworth Financial LP purchased a new position in shares of Kearny Financial during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of Kearny Financial by 103.4% in 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 purchasing an additional 1,753 shares during the period. Osaic Holdings Inc. grew its holdings 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 valued at $27,000 after purchasing an additional 4,091 shares in the last quarter. Legal & General Group Plc purchased a new position in Kearny Financial in the 2nd quarter valued at approximately $54,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company's stock worth $45,000 after acquiring an additional 1,605 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.
About Kearny Financial
(
Get Free Report)
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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