Kearny Financial (KRNY) Stock Rating Lowered by BidaskClub

Kearny Financial (NASDAQ:KRNY) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

Separately, Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $14.00 price target on shares of Kearny Financial in a report on Friday, December 22nd.

Shares of Kearny Financial (NASDAQ:KRNY) remained flat at $$14.10 during midday trading on Friday. 490,103 shares of the stock traded hands, compared to its average volume of 248,125. Kearny Financial has a twelve month low of $13.30 and a twelve month high of $15.80. The company has a market cap of $1,142.35, a PE ratio of 61.30 and a beta of 0.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Monday, October 30th. The savings and loans company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Kearny Financial had a net margin of 12.31% and a return on equity of 1.79%. The company had revenue of $29.90 million for the quarter.

In other news, Director Matthew T. Mcclane sold 13,804 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $14.42, for a total value of $199,053.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore J. Aanensen sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $14.49, for a total transaction of $50,715.00. The disclosure for this sale can be found here. In the last three months, insiders sold 19,804 shares of company stock valued at $286,334. Company insiders own 3.78% of the company’s stock.

Large investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its position in shares of Kearny Financial by 243.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,972 shares of the savings and loans company’s stock valued at $148,000 after buying an additional 7,068 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Kearny Financial by 546.6% in the second quarter. BNP Paribas Arbitrage SA now owns 11,070 shares of the savings and loans company’s stock valued at $164,000 after buying an additional 9,358 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Kearny Financial in the third quarter valued at approximately $304,000. Ramsey Quantitative Systems acquired a new position in shares of Kearny Financial in the second quarter valued at approximately $316,000. Finally, Legal & General Group Plc raised its position in shares of Kearny Financial by 46.6% in the second quarter. Legal & General Group Plc now owns 30,720 shares of the savings and loans company’s stock valued at $456,000 after buying an additional 9,765 shares during the last quarter. 62.44% of the stock is owned by institutional investors and hedge funds.

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Kearny Financial Company Profile

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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