Piper Sandler Weighs in on Kearny Financial Corp.’s FY2020 Earnings (NASDAQ:KRNY)

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Kearny Financial Corp. (NASDAQ:KRNY) – Research analysts at Piper Sandler upped their FY2020 EPS estimates for Kearny Financial in a research report issued on Monday, June 29th. Piper Sandler analyst M. Fitzgibbon now forecasts that the savings and loans company will post earnings per share of $0.44 for the year, up from their prior forecast of $0.42. Piper Sandler currently has a “Overweight” rating and a $10.00 target price on the stock. Piper Sandler also issued estimates for Kearny Financial’s Q1 2021 earnings at $0.13 EPS, Q2 2021 earnings at $0.12 EPS and FY2021 earnings at $0.53 EPS.

Several other equities analysts have also commented on the company. Zacks Investment Research lowered Kearny Financial from a “buy” rating to a “hold” rating in a report on Friday, May 1st. BidaskClub lowered Kearny Financial from a “hold” rating to a “sell” rating in a report on Saturday, June 13th.

Kearny Financial stock opened at $8.04 on Wednesday. Kearny Financial has a twelve month low of $7.29 and a twelve month high of $14.40. The stock’s fifty day simple moving average is $8.39 and its 200-day simple moving average is $10.42. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $673.07 million, a P/E ratio of 17.49 and a beta of 0.67.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Wednesday, April 29th. The savings and loans company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Kearny Financial had a return on equity of 3.60% and a net margin of 15.82%. The business had revenue of $43.81 million for the quarter, compared to analyst estimates of $39.20 million.

Several institutional investors and hedge funds have recently made changes to their positions in KRNY. Advisor Group Holdings Inc. acquired a new stake in shares of Kearny Financial during the first quarter worth about $37,000. Great West Life Assurance Co. Can acquired a new stake in Kearny Financial in the fourth quarter valued at about $82,000. DC Investments Management LLC acquired a new stake in Kearny Financial in the first quarter valued at about $91,000. Yakira Capital Management Inc. acquired a new stake in Kearny Financial in the first quarter valued at about $123,000. Finally, Bank of Montreal Can grew its position in shares of Kearny Financial by 37.8% during the 4th quarter. Bank of Montreal Can now owns 10,257 shares of the savings and loans company’s stock valued at $141,000 after buying an additional 2,813 shares during the last quarter. Institutional investors and hedge funds own 64.05% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.32 annualized dividend and a dividend yield of 3.98%. Kearny Financial’s dividend payout ratio (DPR) is 68.09%.

Kearny Financial Company Profile

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. The company 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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Earnings History and Estimates for Kearny Financial (NASDAQ:KRNY)

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