Kearny Financial Corp. (NASDAQ:KRNY) Given $13.50 Average Target Price by Analysts
Kearny Financial Corp. (NASDAQ:KRNY) has earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokers have set a 12 month consensus price target of $13.50 for the company, according to Zacks. Zacks has also given Kearny Financial Corp. an industry rank of 165 out of 265 based on the ratings given to its competitors.
Separately, Keefe, Bruyette & Woods upped their price target on shares of Kearny Financial Corp. from $13.00 to $13.50 and gave the company a “market perform” rating in a research note on Wednesday, September 7th.
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In other news, Director John F. Mcgovern acquired 3,300 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were acquired at an average price of $13.29 per share, for a total transaction of $43,857.00. Following the completion of the transaction, the director now directly owns 194,853 shares of the company’s stock, valued at approximately $2,589,596.37. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in Kearny Financial Corp. by 1.8% in the second quarter. FMR LLC now owns 4,861,880 shares of the company’s stock worth $61,162,000 after buying an additional 87,100 shares during the period. Vanguard Group Inc. boosted its position in Kearny Financial Corp. by 200.6% in the second quarter. Vanguard Group Inc. now owns 4,814,164 shares of the company’s stock worth $60,563,000 after buying an additional 3,212,498 shares during the period. Renaissance Technologies LLC boosted its position in Kearny Financial Corp. by 3.9% in the first quarter. Renaissance Technologies LLC now owns 3,110,021 shares of the company’s stock worth $38,409,000 after buying an additional 116,020 shares during the period. Dimensional Fund Advisors LP boosted its position in Kearny Financial Corp. by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,817,190 shares of the company’s stock worth $35,439,000 after buying an additional 804,298 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Kearny Financial Corp. by 8.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,455,688 shares of the company’s stock worth $17,978,000 after buying an additional 111,618 shares during the period. Institutional investors and hedge funds own 62.66% of the company’s stock.
Kearny Financial Corp. (NASDAQ:KRNY) traded down 0.44% during midday trading on Friday, hitting $13.59. 123,980 shares of the stock traded hands. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 76.78 and a beta of 0.63. Kearny Financial Corp. has a 52-week low of $11.31 and a 52-week high of $14.09. The firm’s 50-day moving average is $13.71 and its 200-day moving average is $13.06.
Kearny Financial Corp. (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. Kearny Financial Corp. had a net margin of 11.50% and a return on equity of 1.36%. Analysts predict that Kearny Financial Corp. will post $0.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 31st were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Monday, August 29th. Kearny Financial Corp.’s payout ratio is 47.06%.
About Kearny Financial Corp.
Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.
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