Kearny Financial (NASDAQ:KRNY) Announces Quarterly Earnings Results

Kearny Financial (NASDAQ:KRNY) issued its quarterly earnings data on Thursday. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01), FiscalAI reports. Kearny Financial had a return on equity of 3.89% and a net margin of 8.57%.The firm had revenue of $43.54 million for the quarter, compared to analysts’ expectations of $44.84 million.

Kearny Financial Stock Performance

Shares of KRNY stock opened at $8.26 on Thursday. The stock’s 50-day moving average price is $7.37 and its 200 day moving average price is $6.78. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $534.75 million, a PE ratio of 17.57 and a beta of 0.70. Kearny Financial has a 52-week low of $5.45 and a 52-week high of $8.30.

Wall Street Analyst Weigh In

KRNY has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Kearny Financial in a research note on Friday, October 31st. Piper Sandler raised their target price on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Kearny Financial has an average rating of “Hold” and a consensus price target of $8.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of KRNY. Osaic Holdings Inc. lifted its holdings in shares of Kearny Financial by 11,688.6% during the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 4,091 shares during the period. Focus Partners Wealth purchased a new position in Kearny Financial during the 3rd quarter worth $76,000. Schonfeld Strategic Advisors LLC purchased a new position in Kearny Financial during the 3rd quarter worth $78,000. Man Group plc acquired a new stake in shares of Kearny Financial in the 3rd quarter worth $80,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Kearny Financial in the second quarter valued at about $106,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Kearny Financial Company Profile

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company’s core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.