Kearny Financial (NASDAQ:KRNY) Shares Cross Above 200 Day Moving Average – Time to Sell?

Kearny Financial (NASDAQ:KRNY) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.70 and traded as high as $8.21. Kearny Financial shares last traded at $7.98, with a volume of 339,538 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on KRNY shares. Zacks Research raised shares of Kearny Financial to a “hold” rating in a research note on Monday, April 27th. Piper Sandler started coverage on shares of Kearny Financial in a research note on Monday, April 27th. They issued an “overweight” rating and a $9.50 price target on the stock. Finally, Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Kearny Financial Stock Down 2.8%

The company has a market cap of $516.63 million, a PE ratio of 14.00 and a beta of 0.66. The company’s 50 day moving average is $7.95 and its 200 day moving average is $7.70. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $44.31 million for the quarter, compared to the consensus estimate of $43.67 million. Kearny Financial had a net margin of 10.39% and a return on equity of 4.61%. As a group, analysts predict that Kearny Financial will post 0.61 earnings per share for the current fiscal year.

Kearny Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 5.5%. The ex-dividend date was Wednesday, May 6th. Kearny Financial’s dividend payout ratio is presently 77.19%.

Insider Transactions at Kearny Financial

In other Kearny Financial news, EVP Timothy A. Swansson sold 4,000 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total transaction of $30,400.00. Following the transaction, the executive vice president directly owned 55,833 shares in the company, valued at $424,330.80. This represents a 6.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its holdings in Kearny Financial by 35.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock worth $45,000 after acquiring an additional 1,605 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Kearny Financial by 15.6% during the 4th quarter. Russell Investments Group Ltd. now owns 11,930 shares of the savings and loans company’s stock worth $88,000 after acquiring an additional 1,610 shares in the last quarter. First Trust Advisors LP grew its holdings in Kearny Financial by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 42,765 shares of the savings and loans company’s stock worth $276,000 after acquiring an additional 1,668 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Kearny Financial by 103.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock worth $26,000 after acquiring an additional 1,753 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Kearny Financial by 4.1% during the 2nd quarter. Quantinno Capital Management LP now owns 47,259 shares of the savings and loans company’s stock worth $305,000 after acquiring an additional 1,865 shares in the last quarter. 71.01% of the stock is currently owned by 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.