Kearny Financial (NASDAQ:KRNY) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Kearny Financial (NASDAQ:KRNY) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.45 and traded as high as $7.38. Kearny Financial shares last traded at $7.33, with a volume of 347,603 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Kearny Financial in a research note on Friday, October 31st. 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, the company has a consensus rating of “Hold” and a consensus target price of $7.75.

Kearny Financial Price Performance

The stock’s 50-day moving average price is $6.65 and its 200-day moving average price is $6.45. The company has a market capitalization of $474.54 million, a price-to-earnings ratio of 15.60 and a beta of 0.72. 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) last announced its quarterly earnings results on Thursday, October 23rd. The savings and loans company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $42.80 million during the quarter, compared to analysts’ expectations of $42.43 million. Kearny Financial had a return on equity of 3.89% and a net margin of 8.57%.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 5th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Wednesday, November 5th. Kearny Financial’s payout ratio is currently 93.62%.

Insider Activity at Kearny Financial

In related news, Director Leopold W. Montanaro purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were bought at an average price of $6.57 per share, for a total transaction of $65,700.00. Following the completion of the transaction, the director owned 265,227 shares of the company’s stock, valued at approximately $1,742,541.39. This trade represents a 3.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 7.44% of the company’s stock.

Institutional Trading of Kearny Financial

A number of institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in Kearny Financial by 11,688.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 4,091 shares in the last quarter. State of Wyoming bought a new stake in Kearny Financial during the first quarter valued at $49,000. Entropy Technologies LP bought a new position in shares of Kearny Financial in the 1st quarter worth $68,000. Nisa Investment Advisors LLC lifted its position in Kearny Financial by 18,309.5% in the 2nd 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. Finally, Focus Partners Wealth bought a new stake in Kearny Financial in the third quarter worth $76,000. Institutional investors own 71.01% of the company’s stock.

Kearny Financial Company Profile

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.