Kearny Financial (NASDAQ:KRNY) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Kearny Financial shares rose above their 200-day moving average, reaching $9.26 and last trading at $9.20 versus the $8.87 average.
• Analyst sentiment is favorable: three analysts rate the stock a Buy and one a Hold, producing a consensus “Moderate Buy” rating and an average price target of $10.75.
• The company pays a quarterly dividend of $0.11 per share, equivalent to a 4.8% yield, while insiders bought 21,033 shares worth approximately $198,500 over the past 90 days.

Kearny Financial (NASDAQ:KRNY - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $8.87 and traded as high as $9.26. Kearny Financial shares last traded at $9.20, with a volume of 794,987 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on KRNY. Weiss Ratings raised shares of Kearny Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 24th. Piper Sandler boosted their price objective on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Finally, Raymond James Financial started coverage on shares of Kearny Financial in a report on Wednesday, August 26th. They issued an "outperform" rating and a $11.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Kearny Financial Stock Up 1.0%

The firm has a fifty day simple moving average of $9.62 and a 200-day simple moving average of $8.87. The company has a market capitalization of $597.36 million, a PE ratio of 16.14 and a beta of 0.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.05 and a current ratio of 1.05.

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 analysts' consensus estimates of $0.17 by ($0.02). The company had revenue of $45.69 million for the quarter, compared to analyst estimates of $45.61 million. Kearny Financial had a return on equity of 4.90% and a net margin of 10.45%. Equities research analysts anticipate that Kearny Financial will post 0.79 EPS for the current fiscal year.

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.44 annualized dividend and a dividend yield of 4.8%. Kearny Financial's dividend payout ratio (DPR) is presently 77.19%.

Insider Buying and Selling

In other news, Director Curtland E. Fields acquired 14,700 shares of Kearny Financial stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average cost of $9.41 per share, for a total transaction of $138,327.00. Following the completion of the purchase, the director directly owned 57,900 shares of the company's stock, valued at $544,839. This trade represents a 34.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leopold Montanaro acquired 4,773 shares of the firm's stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $9.46 per share, with a total value of $45,152.58. Following the acquisition, the director owned 270,000 shares of the company's stock, valued at $2,554,200. This trade represents a 1.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 21,033 shares of company stock worth $198,502. 7.68% of the stock is currently owned by company insiders.

Institutional Trading of Kearny Financial

A number of institutional investors and hedge funds have recently modified their holdings of KRNY. BlackRock Inc. acquired a new position in shares of Kearny Financial in the 2nd quarter valued at about $84,461,000. Arrowstreet Capital Limited Partnership lifted its holdings in Kearny Financial by 6.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company's stock worth $10,851,000 after acquiring an additional 81,050 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Kearny Financial in the second quarter valued at approximately $3,685,000. Algert Global LLC grew its holdings in shares of Kearny Financial by 59.2% during the second quarter. Algert Global LLC now owns 370,979 shares of the savings and loans company's stock valued at $3,509,000 after purchasing an additional 137,933 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of Kearny Financial by 16.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 290,000 shares of the savings and loans company's stock worth $2,743,000 after purchasing an additional 40,000 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Kearny Financial Company Profile

Kearny Financial Corp. is the holding company for Kearny Bank, a community-oriented savings bank serving customers in northern and central New Jersey and parts of New York. The bank provides traditional retail and commercial banking services through branch locations and digital banking channels.

Kearny Bank's products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, commercial real estate financing, construction loans, business loans and consumer lending.

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