Kearny Financial (NASDAQ:KRNY) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Kearny Financial (NASDAQ:KRNY) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.04 and traded as high as $9.42. Kearny Financial shares last traded at $9.37, with a volume of 403,415 shares changing hands.

Analyst Ratings Changes

KRNY has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Zacks Research raised shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.50.

Kearny Financial Trading Up 1.0%

The company has a 50 day moving average price of $8.58 and a 200 day moving average price of $8.05. The firm has a market cap of $613.09 million, a price-to-earnings ratio of 16.61 and a beta of 0.64. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.03.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings data 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 firm 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%. On average, research analysts expect that Kearny Financial will post 0.61 earnings per share for the current year.

Kearny Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Wednesday, May 6th. Kearny Financial’s dividend payout ratio (DPR) is 77.19%.

Insider Transactions at Kearny Financial

In related news, Director Curtland E. Fields purchased 3,600 shares of Kearny Financial stock in a transaction dated Thursday, June 18th. The shares were acquired at an average cost of $8.41 per share, with a total value of $30,276.00. Following the purchase, the director owned 43,200 shares of the company’s stock, valued at approximately $363,312. The trade was a 9.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Melvina Wong-Zaza acquired 3,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $8.57 per share, for a total transaction of $29,995.00. Following the completion of the acquisition, the director owned 33,910 shares in the company, valued at approximately $290,608.70. The trade was a 11.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 24,800 shares of company stock valued at $211,196. Company insiders own 7.44% of the company’s stock.

Institutional Trading of Kearny Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRNY. Adage Capital Partners GP L.L.C. raised its holdings 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 buying an additional 1,339,062 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Kearny Financial by 373.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 918,125 shares of the savings and loans company’s stock valued at $5,931,000 after acquiring an additional 724,297 shares during the period. AQR Capital Management LLC boosted its holdings in Kearny Financial by 36.4% during 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 acquiring an additional 539,811 shares during the period. First Trust Advisors LP grew its position in Kearny Financial by 402.0% in the 3rd quarter. First Trust Advisors LP now owns 214,681 shares of the savings and loans company’s stock valued at $1,410,000 after acquiring an additional 171,916 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in Kearny Financial in the 4th quarter valued at about $1,145,000. Hedge funds and other 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.