StockNews.com Lowers Kearny Financial (NASDAQ:KRNY) to Sell

Posted by Defense World Staff on Sep 24th, 2023

Kearny Financial (NASDAQ:KRNY – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Kearny Financial Trading Down 0.9 %

Shares of NASDAQ KRNY opened at $6.87 on Friday. The company’s fifty day moving average is $7.73 and its 200-day moving average is $7.67. The stock has a market cap of $447.58 million, a price-to-earnings ratio of 10.90 and a beta of 0.63. Kearny Financial has a twelve month low of $6.58 and a twelve month high of $11.32. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.75.

Kearny Financial (NASDAQ:KRNY – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The savings and loans company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $43.85 million for the quarter, compared to analysts’ expectations of $42.70 million. Kearny Financial had a net margin of 13.77% and a return on equity of 5.82%.

Insider Transactions at Kearny Financial

In related news, Director Curtland E. Fields bought 7,800 shares of Kearny Financial stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $8.44 per share, with a total value of $65,832.00. Following the purchase, the director now owns 15,300 shares in the company, valued at $129,132. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Curtland E. Fields bought 7,800 shares of Kearny Financial stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $8.44 per share, with a total value of $65,832.00. Following the purchase, the director now owns 15,300 shares in the company, valued at $129,132. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John F. Mcgovern bought 7,013 shares of Kearny Financial stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average cost of $7.09 per share, with a total value of $49,722.17. Following the completion of the purchase, the director now owns 300,000 shares in the company, valued at approximately $2,127,000. The disclosure for this purchase can be found here. Insiders have bought a total of 15,863 shares of company stock valued at $124,280 over the last three months. 7.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kearny Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Kearny Financial by 38.2% during the 2nd quarter. Royal Bank of Canada now owns 9,932 shares of the savings and loans company’s stock worth $70,000 after buying an additional 2,745 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Kearny Financial by 147.7% during the 4th quarter. Quadrant Capital Group LLC now owns 7,707 shares of the savings and loans company’s stock worth $78,000 after buying an additional 4,595 shares in the last quarter. Key Client Fiduciary Advisors LLC bought a new stake in Kearny Financial during the 1st quarter worth about $87,000. Numerai GP LLC bought a new stake in Kearny Financial during the 1st quarter worth about $88,000. Finally, US Bancorp DE lifted its position in Kearny Financial by 14.7% during the 1st quarter. US Bancorp DE now owns 11,462 shares of the savings and loans company’s stock worth $93,000 after buying an additional 1,465 shares in the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

Kearny Financial Company Profile

(Get Free Report)

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.