Kearny Financial (NASDAQ:KRNY) Hits New 52-Week High – What’s Next?

Kearny Financial (NASDAQ:KRNY) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $7.88 and last traded at $7.8650, with a volume of 16864 shares changing hands. The stock had previously closed at $7.81.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KRNY. Piper Sandler boosted their price objective on Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Kearny Financial in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.00.

Kearny Financial Price Performance

The stock has a market capitalization of $511.12 million, a PE ratio of 16.78 and a beta of 0.72. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.05 and a quick ratio of 1.04. The firm’s 50 day simple moving average is $6.80 and its 200 day simple moving average is $6.53.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Thursday, October 23rd. The savings and loans company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $42.80 million for the quarter, compared to analyst estimates of $42.43 million. Kearny Financial had a net margin of 8.57% and a return on equity of 3.89%.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th were issued a $0.11 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $0.44 annualized dividend and a dividend yield of 5.6%. Kearny Financial’s payout ratio is currently 93.62%.

Insider Buying and Selling at Kearny Financial

In other news, Director Leopold W. Montanaro bought 10,000 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $65,700.00. Following the completion of the acquisition, the director owned 265,227 shares of the company’s stock, valued at approximately $1,742,541.39. This trade represents a 3.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 7.44% of the company’s stock.

Institutional Investors Weigh In On Kearny Financial

Large investors have recently made changes to their positions in the business. Cambria Investment Management L.P. bought a new position in Kearny Financial in the third quarter worth $153,000. PharVision Advisers LLC purchased a new stake in shares of Kearny Financial in the 3rd quarter worth about $123,000. Qube Research & Technologies Ltd increased its stake in shares of Kearny Financial by 120.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 51,364 shares of the savings and loans company’s stock worth $337,000 after acquiring an additional 28,090 shares in the last quarter. Numerai GP LLC lifted its position in Kearny Financial by 146.4% during the 3rd quarter. Numerai GP LLC now owns 135,309 shares of the savings and loans company’s stock valued at $889,000 after acquiring an additional 80,386 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Kearny Financial during the third quarter worth about $188,000. 71.01% of the stock is currently owned by institutional investors.

Kearny Financial Company Profile

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.