Kearny Financial Corp. (KRNY) Given Consensus Rating of “Hold” by Brokerages
Kearny Financial Corp. (NASDAQ:KRNY) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Analysts have set a 1 year consensus price objective of $13.50 for the company, according to Zacks. Zacks has also given Kearny Financial Corp. an industry rank of 103 out of 265 based on the ratings given to its competitors.
Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Kearny Financial Corp. from $13.00 to $13.50 and gave the company a “market perform” rating in a research report on Wednesday, September 7th.
In other Kearny Financial Corp. news, Director John F. Mcgovern purchased 3,300 shares of the stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $13.29 per share, with a total value of $43,857.00. Following the transaction, the director now owns 194,853 shares of the company’s stock, valued at $2,589,596.37. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.68% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in KRNY. Benin Management CORP acquired a new stake in shares of Kearny Financial Corp. during the second quarter valued at $127,000. Royal Bank of Canada boosted its stake in shares of Kearny Financial Corp. by 37,697.2% in the first quarter. Royal Bank of Canada now owns 13,607 shares of the company’s stock valued at $168,000 after buying an additional 13,571 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Kearny Financial Corp. by 181.4% in the first quarter. Panagora Asset Management Inc. now owns 474,999 shares of the company’s stock valued at $5,866,000 after buying an additional 306,184 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Kearny Financial Corp. by 21.9% in the first quarter. Legal & General Group Plc now owns 14,679 shares of the company’s stock valued at $180,000 after buying an additional 2,636 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Kearny Financial Corp. by 3.9% in the first quarter. Renaissance Technologies LLC now owns 3,110,021 shares of the company’s stock valued at $38,409,000 after buying an additional 116,020 shares during the last quarter. 62.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Kearny Financial Corp. (NASDAQ:KRNY) opened at 13.59 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of 76.78 and a beta of 0.63. Kearny Financial Corp. has a 12 month low of $11.31 and a 12 month high of $14.09. The company’s 50 day moving average is $13.72 and its 200 day moving average is $13.10.
Kearny Financial Corp. (NASDAQ:KRNY) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Kearny Financial Corp. had a net margin of 11.50% and a return on equity of 1.36%. On average, equities research analysts predict that Kearny Financial Corp. will post $0.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 31st were given a $0.02 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.08 annualized dividend and a dividend yield of 0.59%. Kearny Financial Corp.’s payout ratio is presently 47.06%.
Kearny Financial Corp. 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.
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