Kearny Financial (NASDAQ:KRNY) Reaches New 52-Week High – Here’s What Happened

by · The Cerbat Gem

Kearny Financial (NASDAQ:KRNY – Get Free Report)’s share price reached a new 52-week high on Thursday . The stock traded as high as $7.96 and last traded at $7.9550, with a volume of 92180 shares. The stock had previously closed at $7.77.

Wall Street Analyst Weigh In

Several research firms have weighed in on KRNY. Piper Sandler increased their target price on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kearny Financial in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Kearny Financial has an average rating of “Hold” and an average price target of $8.00.

Read Our Latest Stock Report on KRNY

Kearny Financial Trading Down 0.6%

The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $508.85 million, a P/E ratio of 16.72 and a beta of 0.70. The business has a fifty day moving average price of $7.28 and a 200 day moving average price of $6.75.

Kearny Financial (NASDAQ:KRNY – Get Free Report) last released its earnings results on Thursday, October 23rd. The savings and loans company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. Kearny Financial had a return on equity of 3.89% and a net margin of 8.57%.The firm 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. Shareholders of record on Wednesday, November 5th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.44 annualized dividend and a yield of 5.6%. Kearny Financial’s payout ratio is 93.62%.

Institutional Trading of Kearny Financial

A number of hedge funds and other institutional investors have recently modified their holdings of KRNY. Osaic Holdings Inc. grew 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 purchasing an additional 4,091 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Kearny Financial in the 3rd quarter valued at approximately $76,000. Nisa Investment Advisors LLC grew its stake in shares of Kearny Financial by 18,309.5% in the second quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company’s stock valued at $75,000 after buying an additional 11,535 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Kearny Financial during the third quarter worth $78,000. Finally, Man Group plc acquired a new stake in Kearny Financial in the third quarter valued at $80,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

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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