Kearny Financial (NASDAQ:KRNY) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Kearny Financial (NASDAQ:KRNY)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.70 and traded as high as $8.21. Kearny Financial shares last traded at $7.98, with a volume of 339,538 shares trading hands.

Analyst Ratings Changes

A number of research firms recently issued reports on KRNY. Piper Sandler began coverage on Kearny Financial in a report on Monday, April 27th. They issued an “overweight” rating and a $9.50 target price for the company. Zacks Research upgraded Kearny Financial to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings upgraded Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kearny Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Kearny Financial Price Performance

The company has a market capitalization of $537.99 million, a PE ratio of 14.58 and a beta of 0.66. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The stock has a fifty day simple moving average of $7.99 and a 200-day simple moving average of $7.72.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The company had revenue of $44.31 million during the quarter, compared to the consensus estimate of $43.67 million. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%. Equities analysts anticipate that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s payout ratio is 77.19%.

Insider Transactions at Kearny Financial

In other Kearny Financial news, EVP Timothy A. Swansson sold 4,000 shares of Kearny Financial stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.60, for a total transaction of $30,400.00. Following the completion of the sale, the executive vice president directly owned 55,833 shares of the company’s stock, valued at $424,330.80. The trade was a 6.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.44% of the stock is owned by company insiders.

Institutional Trading of Kearny Financial

A number of institutional investors have recently bought and sold shares of KRNY. EverSource Wealth Advisors LLC increased its position in shares of Kearny Financial by 103.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock worth $26,000 after purchasing an additional 1,753 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Kearny Financial by 11,688.6% during the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Kearny Financial by 35.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after purchasing an additional 1,605 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Kearny Financial by 119.5% during the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock worth $55,000 after purchasing an additional 3,946 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Kearny Financial by 59.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock worth $64,000 after purchasing an additional 3,200 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other 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.