Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Kearny Financial (NASDAQ:KRNY) Stock Price
News headlines about Kearny Financial (NASDAQ:KRNY) have been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern scores the sentiment of news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Kearny Financial earned a news sentiment score of 0.15 on Accern’s scale. Accern also gave headlines about the savings and loans company an impact score of 46.3147385212739 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Several analysts have commented on the company. BidaskClub upgraded Kearny Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $13.00 target price (down from $14.50) on shares of Kearny Financial in a research note on Tuesday, May 16th.
Kearny Financial (NASDAQ:KRNY) opened at 14.45 on Monday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 65.68 and a beta of 0.58. Kearny Financial has a 1-year low of $12.59 and a 1-year high of $16.10. The stock has a 50 day moving average price of $14.69 and a 200-day moving average price of $14.80.
Kearny Financial (NASDAQ:KRNY) last released its earnings results on Friday, July 28th. The savings and loans company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Kearny Financial had a return on equity of 1.68% and a net margin of 12.37%. The firm had revenue of $29.75 million for the quarter. Equities research analysts expect that Kearny Financial will post $0.24 EPS for the current year.
Kearny Financial declared that its board has initiated a stock repurchase plan on Wednesday, May 24th that permits the company to repurchase 8,560,000 outstanding shares. This repurchase authorization permits the savings and loans company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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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