Zacks Research downgraded shares of Kearny Financial (NASDAQ:KRNY – Free Report) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks reports.
A number of other research firms have also recently issued reports on KRNY. Weiss Ratings upgraded Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 24th. Raymond James Financial restated an “outperform” rating and issued a $10.50 target price on shares of Kearny Financial in a research note on Monday. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.50.
View Our Latest Analysis on KRNY
Kearny Financial Stock Performance
Shares of KRNY opened at $9.26 on Monday. Kearny Financial has a 12-month low of $6.22 and a 12-month high of $10.23. The stock’s 50-day moving average price is $9.48 and its 200 day moving average price is $8.61.
Kearny Financial (NASDAQ:KRNY – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The savings and loans company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $45.28 million during the quarter, compared to analysts’ expectations of $46.97 million. Equities analysts predict that Kearny Financial will post 0.75 EPS for the current year.
Kearny Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Wednesday, November 4th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, November 4th.
Insider Buying and Selling
In related news, Director Leopold W. Montanaro acquired 4,773 shares of the company’s stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $9.46 per share, for a total transaction of $45,152.58. Following the completion of the purchase, the director directly owned 270,000 shares of the company’s stock, valued at $2,554,200. The trade was a 1.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.68% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Kearny Financial
Several institutional investors and hedge funds have recently made changes to their positions in KRNY. BlackRock Inc. bought a new stake in shares of Kearny Financial in the 2nd quarter worth about $84,461,000. Arrowstreet Capital Limited Partnership lifted its holdings in Kearny Financial by 6.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock valued at $10,851,000 after purchasing an additional 81,050 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Kearny Financial during the 2nd quarter valued at about $3,685,000. Algert Global LLC lifted its holdings in Kearny Financial by 59.2% during the 2nd 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. boosted its position in Kearny Financial by 16.0% in the second quarter. Hennessy Advisors Inc. now owns 290,000 shares of the savings and loans company’s stock valued at $2,743,000 after buying an additional 40,000 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.
Kearny Financial Company Profile
Kearny Financial Corp. is the holding company for Kearny Bank, a community-focused financial institution headquartered in Fairfield, New Jersey. The bank provides a range of banking and financial services to individuals, families, businesses and nonprofit organizations.
Kearny Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, commercial real estate financing, business loans, construction loans and consumer lending.
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