Kearny Financial (NASDAQ:KRNY) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Kearny Financial (NASDAQ:KRNY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.04 and traded as high as $9.42. Kearny Financial shares last traded at $9.37, with a volume of 403,415 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on KRNY. Weiss Ratings raised shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. Piper Sandler raised their price objective on shares of Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Finally, Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Kearny Financial Stock Performance

The firm has a market capitalization of $606.61 million, a price-to-earnings ratio of 16.44 and a beta of 0.64. The firm has a 50 day moving average price of $8.56 and a 200-day moving average price of $8.04. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.03 and a quick ratio of 1.03.

Kearny Financial (NASDAQ:KRNY) last released its 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. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%.The firm had revenue of $44.31 million during the quarter, compared to analysts’ expectations of $43.67 million. As a group, sell-side analysts expect that Kearny Financial will post 0.61 earnings per share for the current fiscal year.

Kearny Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.44 dividend on an annualized basis and a yield of 4.7%. Kearny Financial’s dividend payout ratio (DPR) is currently 77.19%.

Insider Activity

In other news, Director Curtland E. Fields bought 4,950 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were purchased at an average cost of $8.34 per share, for a total transaction of $41,283.00. Following the completion of the purchase, the director owned 39,600 shares of the company’s stock, valued at approximately $330,264. This represents a 14.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Melvina Wong-Zaza bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $8.57 per share, for a total transaction of $29,995.00. Following the completion of the purchase, the director directly owned 33,910 shares of the company’s stock, valued at approximately $290,608.70. This trade represents a 11.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 24,800 shares of company stock valued at $211,196 in the last quarter. Company insiders own 7.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KRNY. Vanguard Group Inc. grew its holdings in Kearny Financial by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock worth $22,002,000 after acquiring an additional 133,683 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Kearny Financial by 36.4% in the 4th quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock valued at $14,993,000 after purchasing an additional 539,811 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Kearny Financial by 488.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock valued at $11,952,000 after purchasing an additional 1,339,062 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Kearny Financial by 6.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock valued at $10,851,000 after purchasing an additional 81,050 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Kearny Financial by 2.3% in the 2nd quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after purchasing an additional 27,460 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.