Kearny Financial (KRNY) Stock Rating Upgraded by BidaskClub

Kearny Financial (NASDAQ:KRNY) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday.

Separately, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $13.00 target price (down previously from $14.50) on shares of Kearny Financial in a report on Tuesday, May 16th.

Shares of Kearny Financial (NASDAQ:KRNY) traded down 1.38% during mid-day trading on Tuesday, hitting $14.30. 162,584 shares of the stock traded hands. Kearny Financial has a one year low of $12.14 and a one year high of $16.10. The company has a market cap of $1.20 billion, a P/E ratio of 64.71 and a beta of 0.61. The stock has a 50 day moving average price of $14.34 and a 200-day moving average price of $14.96.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Monday, June 5th. Kearny Financial’s dividend payout ratio (DPR) is presently 57.15%.

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A number of institutional investors have recently added to or reduced their stakes in KRNY. Acadian Asset Management LLC raised its position in Kearny Financial by 11.0% in the first quarter. Acadian Asset Management LLC now owns 2,835,756 shares of the savings and loans company’s stock valued at $42,681,000 after buying an additional 281,597 shares during the period. Creative Planning raised its position in Kearny Financial by 4.3% in the first quarter. Creative Planning now owns 108,500 shares of the savings and loans company’s stock valued at $1,633,000 after buying an additional 4,500 shares during the period. Highbridge Capital Management LLC bought a new position in Kearny Financial during the fourth quarter valued at approximately $507,000. Teachers Advisors LLC raised its position in Kearny Financial by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 141,090 shares of the savings and loans company’s stock valued at $2,194,000 after buying an additional 4,254 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in Kearny Financial during the fourth quarter valued at approximately $161,000. 65.75% of the stock is currently owned by hedge funds and other institutional investors.

Kearny Financial Company Profile

Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:KRNY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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