Kearny Financial (NASDAQ:KRNY) Reaches New 12-Month High – What’s Next?

Shares of Kearny Financial (NASDAQ:KRNY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.20 and last traded at $8.2150, with a volume of 162630 shares changing hands. The stock had previously closed at $7.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler lifted their price target on Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Kearny Financial in a research report on Friday, October 31st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kearny Financial has an average rating of “Hold” and an average price target of $8.00.

Kearny Financial Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $517.08 million, a P/E ratio of 17.00 and a beta of 0.70. The company’s fifty day moving average price is $7.41 and its 200 day moving average price is $6.79.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Thursday, January 22nd. The savings and loans company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $43.54 million for the quarter, compared to the consensus estimate of $44.84 million. Kearny Financial had a return on equity of 3.89% and a net margin of 8.57%.

Kearny Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Wednesday, February 4th. Kearny Financial’s dividend payout ratio is currently 93.62%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP lifted its position in shares of Kearny Financial by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company’s stock valued at $276,000 after acquiring an additional 1,668 shares during the period. Quantinno Capital Management LP boosted its position in shares of Kearny Financial by 4.1% during the 2nd quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company’s stock worth $305,000 after purchasing an additional 1,865 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Kearny Financial by 14.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 19,000 shares of the savings and loans company’s stock worth $141,000 after purchasing an additional 2,367 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Kearny Financial by 11.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,825 shares of the savings and loans company’s stock valued at $147,000 after buying an additional 2,383 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Kearny Financial by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 409,345 shares of the savings and loans company’s stock valued at $2,644,000 after buying an additional 2,909 shares during the period. Institutional investors own 71.01% of the company’s stock.

About Kearny Financial

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.