Kearny Financial (NASDAQ:KRNY) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

by · The Cerbat Gem

Kearny Financial (NASDAQ:KRNY – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.60 and traded as high as $7.73. Kearny Financial shares last traded at $7.7740, with a volume of 233,786 shares trading hands.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report on Kearny Financial

Kearny Financial Price Performance

The stock has a market capitalization of $490.73 million, a PE ratio of 16.13 and a beta of 0.72. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.04 and a current ratio of 1.05. The stock’s 50 day moving average is $6.96 and its two-hundred day moving average is $6.61.

Kearny Financial (NASDAQ:KRNY – Get Free Report) last issued its earnings results on Thursday, October 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Kearny Financial had a return on equity of 3.89% and a net margin of 8.57%.The business had revenue of $42.80 million for the quarter, compared to analysts’ expectations of $42.43 million.

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, November 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.8%. Kearny Financial’s dividend payout ratio is currently 93.62%.

Hedge Funds Weigh In On Kearny Financial

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Kearny Financial by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after purchasing an additional 133,683 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Kearny Financial by 1.1% in the second quarter. Geode Capital Management LLC now owns 1,409,239 shares of the savings and loans company’s stock valued at $9,105,000 after buying an additional 15,162 shares in the last quarter. Invesco Ltd. grew its stake in shares of Kearny Financial by 2.3% in the second quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after buying an additional 27,460 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Kearny Financial by 21.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,112,013 shares of the savings and loans company’s stock valued at $7,306,000 after buying an additional 193,888 shares during the period. Finally, Fourthstone LLC boosted its holdings in Kearny Financial by 351.4% during the 2nd quarter. Fourthstone LLC now owns 1,109,666 shares of the savings and loans company’s stock valued at $7,168,000 after acquiring an additional 863,816 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Kearny Financial Company Profile

(Get Free Report)

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.

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