Morgan Stanley Has $748,000 Stake in Kearny Financial Corp. (NASDAQ:KRNY)

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Morgan Stanley decreased its holdings in shares of Kearny Financial Corp. (NASDAQ:KRNY) by 56.2% in the 1st quarter, Holdings Channel reports. The fund owned 87,098 shares of the savings and loans company’s stock after selling 111,840 shares during the period. Morgan Stanley’s holdings in Kearny Financial were worth $748,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KRNY. Castine Capital Management LLC bought a new stake in shares of Kearny Financial during the first quarter worth about $7,334,000. Norges Bank bought a new stake in shares of Kearny Financial during the fourth quarter worth about $10,497,000. Acadian Asset Management LLC grew its holdings in shares of Kearny Financial by 28.5% during the first quarter. Acadian Asset Management LLC now owns 889,127 shares of the savings and loans company’s stock worth $7,637,000 after purchasing an additional 197,033 shares during the last quarter. River Wealth Advisors LLC bought a new stake in shares of Kearny Financial during the first quarter worth about $1,348,000. Finally, Assenagon Asset Management S.A. bought a new stake in Kearny Financial in the first quarter valued at approximately $1,203,000. 64.05% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on KRNY. Piper Sandler upgraded Kearny Financial from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $10.50 to $10.00 in a report on Monday, April 6th. Zacks Investment Research cut Kearny Financial from a “hold” rating to a “sell” rating in a report on Friday, July 3rd. Finally, BidaskClub upgraded Kearny Financial from a “strong sell” rating to a “sell” rating in a report on Friday.

Kearny Financial stock opened at $8.04 on Friday. The stock has a market capitalization of $672.63 million, a price-to-earnings ratio of 14.89 and a beta of 0.67. Kearny Financial Corp. has a 52-week low of $7.22 and a 52-week high of $14.40. The stock’s 50 day moving average price is $7.84 and its two-hundred day moving average price is $9.48. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.08 and a current ratio of 1.09.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, July 30th. The savings and loans company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. The firm had revenue of $45.45 million for the quarter, compared to analysts’ expectations of $42.45 million. Kearny Financial had a return on equity of 4.01% and a net margin of 17.78%. On average, equities research analysts forecast that Kearny Financial Corp. will post 0.53 EPS for the current year.

Kearny Financial 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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Want to see what other hedge funds are holding KRNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kearny Financial Corp. (NASDAQ:KRNY).

Institutional Ownership by Quarter for Kearny Financial (NASDAQ:KRNY)

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