Kearny Financial (NASDAQ:KRNY) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Kearny Financial (NASDAQ:KRNY) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $8.87 and traded as high as $9.26. Kearny Financial shares last traded at $9.20, with a volume of 794,987 shares changing hands.

Wall Street Analysts Forecast Growth

KRNY has been the subject of several research analyst reports. Weiss Ratings raised Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 24th. Piper Sandler raised their target price on Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Raymond James Financial started coverage on Kearny Financial in a report on Wednesday, August 26th. They issued an “outperform” rating and a $11.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Kearny Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

Kearny Financial Stock Down 1.4%

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $588.91 million, a P/E ratio of 15.91 and a beta of 0.65. The stock’s 50-day simple moving average is $9.61 and its 200-day simple moving average is $8.87.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $45.69 million during 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, research analysts predict that Kearny Financial will post 0.79 earnings per share for the current fiscal year.

Kearny Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Wednesday, August 12th. Kearny Financial’s dividend payout ratio is 77.19%.

Insiders Place Their Bets

In other Kearny Financial news, Director Leopold W. Montanaro bought 4,773 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $9.46 per share, with a total value of $45,152.58. Following the transaction, the director directly owned 270,000 shares in the company, valued at $2,554,200. This trade represents a 1.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Curtland Fields bought 14,700 shares of the stock in a transaction dated Monday, July 27th. The shares were acquired at an average price of $9.41 per share, for a total transaction of $138,327.00. Following the completion of the purchase, the director directly owned 57,900 shares in the company, valued at approximately $544,839. This trade represents a 34.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 21,033 shares of company stock valued at $198,502 in the last 90 days. Corporate insiders own 7.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in Kearny Financial in the second quarter valued at approximately $27,000. GAMMA Investing LLC grew its holdings in Kearny Financial by 100.9% during the third quarter. GAMMA Investing LLC now owns 3,675 shares of the savings and loans company’s stock valued at $34,000 after purchasing an additional 1,846 shares during the period. Legal & General Group Plc purchased a new stake in Kearny Financial in the second quarter worth $54,000. Parallel Advisors LLC raised its stake in shares of Kearny Financial by 119.5% in the first quarter. Parallel Advisors LLC now owns 7,248 shares of the savings and loans company’s stock valued at $55,000 after buying an additional 3,946 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Kearny Financial in the second quarter valued at $83,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Kearny Financial

Kearny Financial Corp. is the holding company for Kearny Bank, a community-oriented savings bank serving customers in northern and central New Jersey and parts of New York. The bank provides traditional retail and commercial banking services through branch locations and digital banking channels.

Kearny Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, commercial real estate financing, construction loans, business loans and consumer lending.