Kearny Financial (KRNY) Rating Increased to Hold at BidaskClub

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Kearny Financial (NASDAQ:KRNY) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, ValuEngine raised shares of Kearny Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd.

Kearny Financial opened at $14.05 on Thursday, Marketbeat.com reports. The company has a market capitalization of $1.41 billion, a PE ratio of 53.08 and a beta of 0.53. Kearny Financial has a 1 year low of $12.75 and a 1 year high of $15.60. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.86.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Friday, April 27th. The savings and loans company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $30.61 million for the quarter. Kearny Financial had a net margin of 9.92% and a return on equity of 2.01%.

In related news, EVP Patrick M. Joyce sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 3rd. The shares were sold at an average price of $14.00, for a total transaction of $70,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig Montanaro sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $14.15, for a total transaction of $99,050.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,000 shares of company stock worth $267,820. 3.78% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in KRNY. Two Sigma Advisers LP purchased a new stake in Kearny Financial during the 4th quarter worth approximately $166,000. Oppenheimer Asset Management Inc. increased its stake in Kearny Financial by 75.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 21,914 shares of the savings and loans company’s stock worth $285,000 after buying an additional 9,451 shares during the period. Citigroup Inc. increased its stake in Kearny Financial by 71.4% during the 1st quarter. Citigroup Inc. now owns 23,686 shares of the savings and loans company’s stock worth $308,000 after buying an additional 9,869 shares during the period. Jane Street Group LLC purchased a new stake in Kearny Financial during the 4th quarter worth approximately $339,000. Finally, UBS Group AG increased its stake in Kearny Financial by 51.3% during the 1st quarter. UBS Group AG now owns 27,449 shares of the savings and loans company’s stock worth $356,000 after buying an additional 9,308 shares during the period. 51.17% of the stock is currently owned by hedge funds and other institutional investors.

About Kearny Financial

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.

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