Kearny Financial (NASDAQ:KRNY) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Kearny Financial (NASDAQ:KRNY)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.28 and traded as high as $7.78. Kearny Financial shares last traded at $7.74, with a volume of 277,733 shares.

Analysts Set New Price Targets

KRNY has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Kearny Financial in a report on Wednesday, January 28th. Piper Sandler lifted their target price on Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kearny Financial currently has an average rating of “Hold” and a consensus target price of $8.00.

Kearny Financial Trading Up 2.9%

The company has a fifty day simple moving average of $7.71 and a two-hundred day simple moving average of $7.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $520.51 million, a P/E ratio of 15.46 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY) last posted its earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $43.54 million for the quarter, compared to the consensus estimate of $44.84 million. Kearny Financial had a return on equity of 4.26% and a net margin of 9.41%.

Kearny Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, February 4th. This represents a $0.44 annualized dividend and a yield of 5.5%. Kearny Financial’s payout ratio is currently 84.62%.

Insider Transactions at Kearny Financial

In other news, EVP Timothy A. Swansson sold 4,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.60, for a total value of $30,400.00. Following the sale, the executive vice president directly owned 55,833 shares in the company, valued at $424,330.80. The trade was a 6.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick M. Joyce sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total value of $30,600.00. Following the completion of the sale, the executive vice president owned 54,365 shares in the company, valued at approximately $415,892.25. This trade represents a 6.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.44% of the company’s stock.

Institutional Trading of Kearny Financial

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Kearny Financial by 103.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,448 shares of the savings and loans company’s stock valued at $26,000 after purchasing an additional 1,753 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after purchasing an additional 4,091 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Kearny Financial by 35.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,118 shares of the savings and loans company’s stock valued at $45,000 after purchasing an additional 1,605 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Kearny Financial by 59.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,585 shares of the savings and loans company’s stock valued at $64,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in shares of Kearny Financial in the fourth quarter valued at about $74,000. 71.01% of the stock is currently owned by institutional investors.

About Kearny Financial

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company’s core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.