Kearny Financial (NASDAQ:KRNY) Stock Crosses Above 200 Day Moving Average – Time to Sell?
by Tristan Rich · The Markets DailyKearny Financial (NASDAQ:KRNY – Get Free Report) shares 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.
Analyst Ratings Changes
Several brokerages have commented on KRNY. Piper Sandler boosted their price target on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kearny Financial in a report on Friday, October 31st. One investment 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.
View Our Latest Stock Analysis on Kearny Financial
Kearny Financial Trading Up 2.4%
The company has a market cap of $503.29 million, a PE ratio of 16.54 and a beta of 0.72. The stock’s 50 day moving average is $6.94 and its 200-day moving average is $6.60. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.60.
Kearny Financial (NASDAQ:KRNY – Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. Kearny Financial had a net margin of 8.57% and a return on equity of 3.89%. The business had revenue of $42.80 million during the quarter, compared to analysts’ expectations of $42.43 million.
Kearny Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 5th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Wednesday, November 5th. Kearny Financial’s payout ratio is presently 93.62%.
Institutional Investors Weigh In On Kearny Financial
Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its holdings in shares of Kearny Financial by 11,688.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 4,091 shares during the period. State of Wyoming purchased a new stake in Kearny Financial during the 1st quarter valued at $49,000. Nisa Investment Advisors LLC lifted its position in 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 worth $75,000 after buying an additional 11,535 shares during the last quarter. Focus Partners Wealth purchased a new position in Kearny Financial during the third quarter worth $76,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Kearny Financial during the third quarter worth $78,000. 71.01% of the stock is owned by institutional investors.
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.
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