Kearny Financial (NASDAQ:KRNY) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Kearny Financial (NASDAQ:KRNY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.19 and traded as high as $7.23. Kearny Financial shares last traded at $7.13, with a volume of 337,822 shares.

Analyst Upgrades and Downgrades

KRNY has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on 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 reiterated a “hold (c)” rating on shares of Kearny Financial in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Kearny Financial Trading Up 1.6%

The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day simple moving average of $7.79 and a two-hundred day simple moving average of $7.19. The firm has a market cap of $461.59 million, a PE ratio of 13.71 and a beta of 0.69.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a return on equity of 4.26% and a net margin of 9.41%.The firm had revenue of $43.54 million during the quarter, compared to analysts’ expectations of $44.84 million.

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 6.2%. The ex-dividend date was Wednesday, February 4th. Kearny Financial’s dividend payout ratio is 84.62%.

Insider Buying and Selling

In other Kearny Financial news, EVP Timothy A. Swansson sold 4,000 shares of Kearny Financial stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total transaction of $30,400.00. Following the completion of the sale, the executive vice president directly owned 55,833 shares in the company, valued at approximately $424,330.80. The trade was a 6.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick M. Joyce sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total transaction of $30,600.00. Following the completion of the sale, the executive vice president directly owned 54,365 shares in the company, valued at $415,892.25. This trade represents a 6.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 7.44% of the company’s stock.

Institutional Investors Weigh In On Kearny Financial

Several hedge funds have recently added to or reduced their stakes in KRNY. Segall Bryant & Hamill LLC purchased a new position in shares of Kearny Financial during the 3rd quarter valued at about $1,583,000. Brandywine Global Investment Management LLC acquired a new position in shares of Kearny Financial in the 2nd quarter valued at about $84,000. Creative Planning boosted its stake in shares of Kearny Financial by 22.3% in the second quarter. Creative Planning now owns 190,120 shares of the savings and loans company’s stock worth $1,228,000 after buying an additional 34,695 shares during the last quarter. White Pine Capital LLC grew its holdings in Kearny Financial by 123.5% during the second quarter. White Pine Capital LLC now owns 172,416 shares of the savings and loans company’s stock worth $1,114,000 after acquiring an additional 95,271 shares during the period. Finally, Fourthstone LLC grew its holdings in Kearny Financial by 351.4% during the second quarter. Fourthstone LLC now owns 1,109,666 shares of the savings and loans company’s stock worth $7,168,000 after acquiring an additional 863,816 shares during the period. 71.01% of the stock is owned by hedge funds and other 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.