Kearny Financial (KRNY) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Kearny Financial (NASDAQ:KRNY) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

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

Shares of Kearny Financial (NASDAQ KRNY) opened at $13.35 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.10. Kearny Financial has a one year low of $12.75 and a one year high of $15.63. The stock has a market cap of $1,056.50, a price-to-earnings ratio of 71.06 and a beta of 0.53.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Tuesday, January 30th. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Kearny Financial had a net margin of 9.40% and a return on equity of 1.80%. The company had revenue of $30.10 million for the quarter.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, March 6th. Kearny Financial’s dividend payout ratio (DPR) is presently 63.16%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new position in shares of Kearny Financial in the fourth quarter worth $398,000. MetLife Investment Advisors LLC acquired a new position in shares of Kearny Financial in the fourth quarter worth $531,000. Jane Street Group LLC acquired a new position in shares of Kearny Financial in the fourth quarter worth $339,000. Millennium Management LLC increased its stake in shares of Kearny Financial by 234.1% in the fourth quarter. Millennium Management LLC now owns 1,246,611 shares of the savings and loans company’s stock worth $18,014,000 after acquiring an additional 873,526 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Kearny Financial in the fourth quarter worth $1,819,000. 65.85% of the stock is currently owned by institutional investors and hedge funds.

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Kearny Financial Company Profile

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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