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

Kearny Financial (NASDAQ:KRNY) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.22 and traded as high as $7.46. Kearny Financial shares last traded at $7.37, with a volume of 394,688 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KRNY shares. Piper Sandler raised their target price on Kearny Financial from $7.50 to $9.00 and gave the company 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 report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Kearny Financial Stock Down 1.7%

The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $477.13 million, a P/E ratio of 14.17 and a beta of 0.69. The stock’s fifty day moving average is $7.74 and its two-hundred day moving average is $7.22.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results 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 net margin of 9.41% and a return on equity of 4.26%. The company had revenue of $43.54 million during the quarter, compared to the consensus estimate of $44.84 million.

Kearny Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.0%. Kearny Financial’s payout ratio is 84.62%.

Insider Buying and Selling at Kearny Financial

In related news, EVP Patrick M. Joyce sold 4,000 shares of Kearny Financial stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $7.65, for a total value of $30,600.00. Following the transaction, the executive vice president owned 54,365 shares of the company’s stock, valued at approximately $415,892.25. This trade represents a 6.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Swansson sold 4,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.60, for a total value of $30,400.00. Following the sale, the executive vice president owned 55,833 shares in the company, valued at approximately $424,330.80. The trade was a 6.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.44% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Kearny Financial by 103.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after acquiring an additional 1,753 shares during the period. Osaic Holdings Inc. lifted its position 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 valued at $27,000 after acquiring an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Kearny Financial by 35.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after purchasing an additional 1,605 shares during the period. New York State Common Retirement Fund boosted its stake in Kearny Financial by 59.4% in the 4th quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock worth $64,000 after purchasing an additional 3,200 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in Kearny Financial during the 4th quarter worth approximately $74,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Kearny Financial Company Profile

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.