Kearny Financial (NASDAQ:KRNY) Announces Earnings Results, Misses Expectations By $0.01 EPS

Kearny Financial (NASDAQ:KRNY) issued its quarterly earnings data on Thursday. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01), FiscalAI reports. Kearny Financial had a return on equity of 4.90% and a net margin of 10.45%. The business had revenue of $45.28 million during the quarter, compared to analysts’ expectations of $46.97 million.

Kearny Financial Price Performance

Shares of KRNY stock traded up $0.02 during mid-day trading on Thursday, hitting $9.08. The company had a trading volume of 156,760 shares, compared to its average volume of 460,393. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day moving average price is $9.52 and its 200-day moving average price is $8.97. Kearny Financial has a 52-week low of $6.22 and a 52-week high of $10.23. The company has a market capitalization of $589.56 million, a P/E ratio of 15.96 and a beta of 0.65.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 24th. Piper Sandler increased their price target on shares of Kearny Financial from $9.50 to $10.50 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Raymond James Financial started coverage on Kearny Financial in a report on Wednesday, August 26th. They set an “outperform” rating and a $11.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Insider Buying and Selling at Kearny Financial

In related news, Director Curtland Fields acquired 14,700 shares of the company’s stock in a transaction on Monday, July 27th. The stock was acquired at an average price of $9.41 per share, with a total value of $138,327.00. Following the acquisition, the director directly owned 57,900 shares of the company’s stock, valued at approximately $544,839. This trade represents a 34.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Leopold W. Montanaro acquired 4,773 shares of the stock in a transaction on Monday, August 10th. The shares were acquired at an average price of $9.46 per share, with a total value of $45,152.58. Following the transaction, the director directly owned 270,000 shares of the company’s stock, valued at $2,554,200. The trade was a 1.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 21,033 shares of company stock valued at $198,502 over the last ninety days. 7.68% of the stock is currently owned by corporate insiders.

Kearny Financial Company Profile

Kearny Financial Corp. is the holding company for Kearny Bank, a community-focused financial institution headquartered in Fairfield, New Jersey. The bank provides a range of banking and financial services to individuals, families, businesses and nonprofit organizations.

Kearny Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, commercial real estate financing, business loans, construction loans and consumer lending.