BidaskClub cut shares of Kearny Financial (NASDAQ:KRNY) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Separately, Keefe, Bruyette & Woods reiterated an underperform rating and set a $13.00 price target (down from $14.50) on shares of Kearny Financial in a report on Tuesday, May 16th.

Shares of Kearny Financial (KRNY) traded down 1.37% during trading on Tuesday, reaching $14.40. 310,443 shares of the company were exchanged. The stock has a market capitalization of $1.19 billion, a PE ratio of 65.45 and a beta of 0.58. The stock has a 50-day moving average price of $14.69 and a 200-day moving average price of $14.80. Kearny Financial has a one year low of $12.61 and a one year high of $16.10.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Friday, July 28th. The savings and loans company reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. Kearny Financial had a net margin of 12.37% and a return on equity of 1.68%. The company had revenue of $29.75 million during the quarter. Analysts forecast that Kearny Financial will post $0.24 EPS for the current year.

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Kearny Financial announced that its board has approved a share buyback plan on Wednesday, May 24th that permits the company to buyback 8,560,000 shares. This buyback authorization permits the savings and loans company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

A number of large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new stake in Kearny Financial during the first quarter worth approximately $111,000. SG Americas Securities LLC purchased a new stake in Kearny Financial during the first quarter worth approximately $118,000. Oppenheimer Asset Management Inc. raised its position in shares of Kearny Financial by 243.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,972 shares of the savings and loans company’s stock valued at $148,000 after buying an additional 7,068 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Kearny Financial by 546.6% in the second quarter. BNP Paribas Arbitrage SA now owns 11,070 shares of the savings and loans company’s stock valued at $164,000 after buying an additional 9,358 shares during the period. Finally, Greenwood Capital Associates LLC raised its position in shares of Kearny Financial by 9.1% in the first quarter. Greenwood Capital Associates LLC now owns 15,262 shares of the savings and loans company’s stock valued at $230,000 after buying an additional 1,276 shares during the period. Institutional investors own 66.76% of the company’s stock.

About Kearny Financial

Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.

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