Kearny Financial (NASDAQ:KRNY) Short Interest Up 20.7% in January

Kearny Financial (NASDAQ:KRNY) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 695,117 shares, an increase of 20.7% from the January 15th total of 575,815 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 475,829 shares, the days-to-cover ratio is presently 1.5 days. Based on an average trading volume of 475,829 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.2% of the shares of the company are short sold.

Kearny Financial Stock Performance

Shares of NASDAQ:KRNY traded down $0.03 on Wednesday, reaching $8.15. 131,584 shares of the company’s stock were exchanged, compared to its average volume of 420,729. Kearny Financial has a twelve month low of $5.45 and a twelve month high of $8.50. The company has a fifty day moving average of $7.81 and a 200-day moving average of $6.99. The company has a market capitalization of $527.31 million, a price-to-earnings ratio of 15.66 and a beta of 0.70. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a net margin of 9.41% and a return on equity of 4.26%. The company had revenue of $43.54 million during the quarter, compared to the consensus estimate of $44.84 million.

Kearny Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th will be given a $0.11 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.4%. Kearny Financial’s dividend payout ratio (DPR) is presently 84.62%.

Analyst Upgrades and Downgrades

KRNY has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Kearny Financial in a research report on Wednesday, January 28th. Piper Sandler increased their price target on shares of Kearny Financial from $7.50 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.00.

Insider Activity at Kearny Financial

In other news, EVP Patrick M. Joyce sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total transaction of $30,600.00. Following the transaction, the executive vice president directly owned 54,365 shares in the company, valued at $415,892.25. The trade was a 6.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kearny Financial

A number of large investors have recently bought and sold shares of KRNY. EverSource Wealth Advisors LLC raised its position in shares of Kearny Financial by 103.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after buying an additional 1,753 shares in the last quarter. Osaic Holdings Inc. increased its stake in Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 4,091 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after acquiring an additional 1,605 shares during the last quarter. New York State Common Retirement Fund raised its position in 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 valued at $64,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Kearny Financial during the fourth quarter worth $74,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.