Morgan Stanley trimmed its holdings in Kearny Financial Corp. (NASDAQ:KRNY) by 56.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,098 shares of the savings and loans company’s stock after selling 111,840 shares during the period. Morgan Stanley owned 0.10% of Kearny Financial worth $748,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. DC Investments Management LLC bought a new stake in shares of Kearny Financial during the 1st quarter worth $91,000. Yakira Capital Management Inc. acquired a new position in Kearny Financial during the 1st quarter valued at $123,000. Cubist Systematic Strategies LLC acquired a new position in Kearny Financial during the 4th quarter valued at $153,000. Arizona State Retirement System acquired a new position in Kearny Financial during the 1st quarter valued at $165,000. Finally, Man Group plc acquired a new position in shares of Kearny Financial in the 4th quarter valued at $171,000. 64.05% of the stock is owned by institutional investors.
Shares of NASDAQ:KRNY opened at $8.04 on Friday. The company has a market capitalization of $672.63 million, a price-to-earnings ratio of 14.89 and a beta of 0.67. The firm’s 50 day simple moving average is $7.84 and its 200 day simple moving average is $9.48. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.09 and a quick ratio of 1.08. Kearny Financial Corp. has a fifty-two week low of $7.22 and a fifty-two week high of $14.40.
Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Thursday, July 30th. The savings and loans company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The business had revenue of $45.45 million for the quarter, compared to the consensus estimate of $42.45 million. Kearny Financial had a net margin of 17.78% and a return on equity of 4.01%. Equities research analysts expect that Kearny Financial Corp. will post 0.53 earnings per share for the current year.
Several equities research analysts have recently weighed in on KRNY shares. Zacks Investment Research lowered shares of Kearny Financial from a “hold” rating to a “sell” rating in a report on Friday, July 3rd. Piper Sandler raised shares of Kearny Financial from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $10.50 to $10.00 in a report on Monday, April 6th. Finally, BidaskClub raised shares of Kearny Financial from a “strong sell” rating to a “sell” rating in a report on Friday.
Kearny Financial Profile
Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.
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