Kearny Financial (NASDAQ:KRNY) Cut to Buy at BidaskClub

BidaskClub downgraded shares of Kearny Financial (NASDAQ:KRNY) from a strong-buy rating to a buy rating in a research note published on Wednesday, BidAskClub reports.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler cut their price target on shares of Kearny Financial from $10.50 to $9.00 and set an overweight rating on the stock in a research report on Monday, September 28th. TheStreet raised shares of Kearny Financial from a c+ rating to a b rating in a research report on Monday, November 9th.

KRNY opened at $10.56 on Wednesday. The stock has a market capitalization of $945.23 million, a P/E ratio of 19.56 and a beta of 0.72. Kearny Financial has a 12 month low of $6.91 and a 12 month high of $13.91. The firm’s fifty day simple moving average is $10.34 and its 200 day simple moving average is $8.53. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.96.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Thursday, October 29th. The savings and loans company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.11 by $0.06. The business had revenue of $51.90 million for the quarter, compared to analysts’ expectations of $49.20 million. Kearny Financial had a net margin of 17.45% and a return on equity of 4.33%.

In other news, Director Theodore J. Aanensen sold 2,500 shares of the company’s stock in a transaction dated Tuesday, December 8th. The shares were sold at an average price of $10.44, for a total value of $26,100.00. Also, EVP Patrick M. Joyce sold 3,000 shares of the company’s stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $10.30, for a total transaction of $30,900.00. The disclosure for this sale can be found here. Insiders own 4.87% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of Kearny Financial by 1,086.7% in the 2nd quarter. Bank of Montreal Can now owns 6,337 shares of the savings and loans company’s stock valued at $48,000 after purchasing an additional 5,803 shares during the period. Jane Street Group LLC acquired a new position in Kearny Financial in the 2nd quarter valued at about $130,000. BNP Paribas Arbitrage SA grew its stake in Kearny Financial by 267.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 19,060 shares of the savings and loans company’s stock valued at $137,000 after buying an additional 13,874 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Kearny Financial in the 2nd quarter valued at about $143,000. Finally, Handelsbanken Fonder AB acquired a new position in Kearny Financial in the 2nd quarter valued at about $166,000. 59.99% of the stock is currently owned by institutional investors.

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. The company 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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