Kearny Financial (KRNY) Downgraded by BidaskClub

BidaskClub downgraded shares of Kearny Financial (NASDAQ:KRNY) from a buy rating to a hold rating in a research note released on Wednesday morning.

Shares of NASDAQ:KRNY opened at $12.41 on Wednesday. Kearny Financial has a 12-month low of $12.26 and a 12-month high of $14.85. The firm has a market capitalization of $1.20 billion, a PE ratio of 32.90 and a beta of 0.61. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.15.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Tuesday, October 30th. The savings and loans company reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Kearny Financial had a return on equity of 2.97% and a net margin of 12.42%. The business had revenue of $43.36 million for the quarter.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 28th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 27th. This is an increase from Kearny Financial’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.61%.

Large investors have recently made changes to their positions in the company. Paloma Partners Management Co lifted its position in Kearny Financial by 36.5% during the 3rd quarter. Paloma Partners Management Co now owns 17,200 shares of the savings and loans company’s stock worth $238,000 after acquiring an additional 4,600 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in Kearny Financial by 9.6% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 57,050 shares of the savings and loans company’s stock worth $767,000 after acquiring an additional 5,000 shares during the period. BlueMountain Capital Management LLC lifted its position in Kearny Financial by 35.2% during the 3rd quarter. BlueMountain Capital Management LLC now owns 21,855 shares of the savings and loans company’s stock worth $303,000 after acquiring an additional 5,686 shares during the period. Victory Capital Management Inc. lifted its position in Kearny Financial by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 42,343 shares of the savings and loans company’s stock worth $570,000 after acquiring an additional 5,807 shares during the period. Finally, Putnam Investments LLC lifted its position in Kearny Financial by 9.0% during the 3rd quarter. Putnam Investments LLC now owns 83,299 shares of the savings and loans company’s stock worth $1,154,000 after acquiring an additional 6,900 shares during the period. Institutional investors and hedge funds own 66.00% of the company’s stock.

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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