Kearny Financial (NASDAQ:KRNY) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Kearny Financial (NASDAQ:KRNY) from a hold rating to a sell rating in a research report released on Saturday, January 6th.

Separately, Keefe, Bruyette & Woods restated a sell rating and set a $14.00 price objective on shares of Kearny Financial in a research note on Friday, December 22nd.

Kearny Financial (KRNY) traded up $0.05 during mid-day trading on Friday, hitting $14.45. The stock had a trading volume of 185,954 shares, compared to its average volume of 440,981. Kearny Financial has a 1-year low of $13.35 and a 1-year high of $15.80. The firm has a market capitalization of $1,170.00, a PE ratio of 60.21 and a beta of 0.56. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Monday, October 30th. The savings and loans company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $29.90 million for the quarter. Kearny Financial had a return on equity of 1.79% and a net margin of 12.31%.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Tuesday, December 5th. Kearny Financial’s payout ratio is 50.00%.

In related news, Director Matthew T. Mcclane sold 13,804 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $14.42, for a total value of $199,053.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore J. Aanensen sold 3,500 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $14.49, for a total value of $50,715.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,804 shares of company stock worth $286,334. Corporate insiders own 3.78% of the company’s stock.

Several large investors have recently bought and sold shares of the company. GSA Capital Partners LLP grew its holdings in shares of Kearny Financial by 457.3% during the third quarter. GSA Capital Partners LLP now owns 72,390 shares of the savings and loans company’s stock valued at $1,111,000 after purchasing an additional 59,400 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Kearny Financial by 6.1% during the third quarter. Dimensional Fund Advisors LP now owns 4,888,652 shares of the savings and loans company’s stock worth $75,041,000 after buying an additional 281,128 shares during the period. Citadel Advisors LLC boosted its position in shares of Kearny Financial by 142.7% during the third quarter. Citadel Advisors LLC now owns 38,557 shares of the savings and loans company’s stock worth $592,000 after buying an additional 22,673 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Kearny Financial by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 569,296 shares of the savings and loans company’s stock worth $8,738,000 after buying an additional 65,553 shares during the period. Finally, American International Group Inc. boosted its position in shares of Kearny Financial by 8.1% during the third quarter. American International Group Inc. now owns 56,960 shares of the savings and loans company’s stock worth $874,000 after buying an additional 4,258 shares during the period. 62.44% of the stock is owned by institutional investors.

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About Kearny Financial

Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.

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