Kearny Financial (NASDAQ:KRNY) Hits New 1-Year High – Should You Buy?

Shares of Kearny Financial (NASDAQ:KRNYGet Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.89 and last traded at $9.5410, with a volume of 1185 shares trading hands. The stock had previously closed at $9.47.

Analyst Ratings Changes

KRNY has been the topic of several research analyst reports. Weiss Ratings cut shares of Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Finally, Piper Sandler boosted their target price on Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.50.

Read Our Latest Research Report on KRNY

Kearny Financial Stock Performance

The stock has a 50 day moving average price of $8.61 and a two-hundred day moving average price of $8.06. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $619.89 million, a price-to-earnings ratio of 16.80 and a beta of 0.64.

Kearny Financial (NASDAQ:KRNYGet Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The business had revenue of $44.31 million for the quarter, compared to the consensus estimate of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. On average, analysts predict that Kearny Financial will post 0.61 EPS for the current fiscal year.

Kearny Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Wednesday, May 6th. Kearny Financial’s dividend payout ratio is presently 77.19%.

Insider Activity at Kearny Financial

In related news, Director Curtland E. Fields purchased 3,600 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average price of $8.41 per share, with a total value of $30,276.00. Following the completion of the acquisition, the director directly owned 43,200 shares in the company, valued at approximately $363,312. This trade represents a 9.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Melvina Wong-Zaza acquired 3,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $8.57 per share, with a total value of $29,995.00. Following the transaction, the director directly owned 33,910 shares in the company, valued at $290,608.70. The trade was a 11.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 24,800 shares of company stock worth $211,196 over the last three months. 7.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Kearny Financial

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in 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 worth $26,000 after purchasing an additional 1,753 shares during the period. Osaic Holdings Inc. lifted its position in Kearny Financial by 11,688.6% during the 2nd 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 during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Kearny Financial by 35.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after purchasing an additional 1,605 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Kearny Financial by 119.5% in the 1st quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after purchasing an additional 3,946 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Kearny Financial by 59.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock worth $64,000 after buying an additional 3,200 shares during the period. Institutional investors and hedge funds 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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