Kearny Financial (NASDAQ:KRNY – Get Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.
KRNY has been the subject of several other reports. 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 price objective on shares of Kearny Financial in a research report on Monday. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.50.
Read Our Latest Research Report on Kearny Financial
Kearny Financial Trading Up 0.1%
NASDAQ KRNY opened at $9.26 on Monday. The stock has a 50-day simple moving average of $9.48 and a two-hundred day simple moving average of $8.61. Kearny Financial has a fifty-two week low of $6.22 and a fifty-two week high of $10.23.
Kearny Financial (NASDAQ:KRNY – Get Free Report) last issued its earnings results on Thursday, October 22nd. The savings and loans company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $45.28 million during the quarter, compared to analysts’ expectations of $46.97 million. On average, research analysts anticipate that Kearny Financial will post 0.75 earnings per share for the current year.
Insider Buying and Selling at Kearny Financial
In other news, Director Leopold W. Montanaro acquired 4,773 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $9.46 per share, for a total transaction of $45,152.58. Following the completion of the transaction, the director owned 270,000 shares in the company, valued at approximately $2,554,200. The trade was a 1.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.68% of the company’s stock.
Institutional Investors Weigh In On Kearny Financial
A number of institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its position in shares of Kearny Financial by 16.5% in the third quarter. Signaturefd LLC now owns 9,930 shares of the savings and loans company’s stock valued at $91,000 after purchasing an additional 1,406 shares during the period. USA Financial Formulas purchased a new stake in shares of Kearny Financial during the third quarter worth about $70,000. Longboard Asset Management LP purchased a new stake in shares of Kearny Financial during the third quarter worth about $92,000. Fortitude Family Office LLC increased its stake in shares of Kearny Financial by 890.1% during the third quarter. Fortitude Family Office LLC now owns 6,218 shares of the savings and loans company’s stock worth $57,000 after purchasing an additional 5,590 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Kearny Financial by 100.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,675 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 1,846 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
About Kearny Financial
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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