Kearny Financial (KRNY) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Kearny Financial (NASDAQ:KRNY) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Separately, Keefe, Bruyette & Woods reissued a sell rating and issued a $13.50 price objective on shares of Kearny Financial in a research report on Friday, February 2nd.

Shares of Kearny Financial (NASDAQ KRNY) opened at $13.00 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1,048.62, a price-to-earnings ratio of 69.58 and a beta of 0.53. Kearny Financial has a 52-week low of $12.75 and a 52-week high of $15.63.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Tuesday, January 30th. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $30.10 million for the quarter. Kearny Financial had a return on equity of 1.80% and a net margin of 9.40%.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were given a $0.03 dividend. The ex-dividend date was Tuesday, March 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.92%. Kearny Financial’s payout ratio is 63.16%.

Several institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Kearny Financial by 1.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 385,413 shares of the savings and loans company’s stock worth $5,570,000 after purchasing an additional 3,716 shares in the last quarter. American International Group Inc. boosted its position in shares of Kearny Financial by 8.1% in the 3rd quarter. American International Group Inc. now owns 56,960 shares of the savings and loans company’s stock worth $874,000 after purchasing an additional 4,258 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Kearny Financial in the 4th quarter worth $166,000. SG Americas Securities LLC acquired a new stake in shares of Kearny Financial in the 3rd quarter worth $304,000. Finally, Citadel Advisors LLC boosted its position in shares of Kearny Financial by 142.7% in the 3rd quarter. Citadel Advisors LLC now owns 38,557 shares of the savings and loans company’s stock worth $592,000 after purchasing an additional 22,673 shares in the last quarter. 65.85% of the stock is owned by hedge funds and other institutional investors.

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About Kearny Financial

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.

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