Kearny Financial (NASDAQ:KRNY – Get Free Report) was upgraded by research analysts at Raymond James Financial to a “moderate buy” rating in a report released on Wednesday,Zacks.com reports.
A number of other equities research analysts have also issued reports on KRNY. Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Piper Sandler upped their target price on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.
View Our Latest Stock Analysis on KRNY
Kearny Financial Price Performance
Kearny Financial (NASDAQ:KRNY – Get Free Report) last released its earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). The business had revenue of $45.69 million for the quarter, compared to analysts’ expectations of $45.61 million. Kearny Financial had a return on equity of 4.90% and a net margin of 10.45%. As a group, analysts forecast that Kearny Financial will post 0.8 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Curtland E. Fields acquired 14,700 shares of Kearny Financial stock in a transaction on Monday, July 27th. The shares were acquired at an average price of $9.41 per share, with a total value of $138,327.00. Following the purchase, the director directly owned 57,900 shares in the company, valued at $544,839. The trade was a 34.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leopold W. Montanaro bought 4,773 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $9.46 per share, with a total value of $45,152.58. Following the completion of the transaction, the director directly owned 270,000 shares in the company, valued at approximately $2,554,200. The trade was a 1.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 44,273 shares of company stock valued at $394,676 in the last quarter. 7.44% of the stock is currently owned by insiders.
Institutional Trading of Kearny Financial
A number of large investors have recently made changes to their positions in KRNY. BlackRock Inc. bought a new position in shares of Kearny Financial in the 2nd quarter valued at about $84,461,000. Vanguard Group Inc. raised its position in Kearny Financial by 4.2% during the third quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after purchasing an additional 133,683 shares during the period. AQR Capital Management LLC lifted its stake in shares of Kearny Financial by 36.4% in the 4th quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock valued at $14,993,000 after purchasing an additional 539,811 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Kearny Financial by 488.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock valued at $11,952,000 after purchasing an additional 1,339,062 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Kearny Financial by 6.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock worth $10,851,000 after purchasing an additional 81,050 shares during the period. 71.01% of the stock is currently owned by institutional investors.
Kearny Financial Company Profile
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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