Kearny Financial (NASDAQ:KRNY) Shares Cross Above 200 Day Moving Average – Time to Sell?

Kearny Financial (NASDAQ:KRNY)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.59 and traded as high as $8.25. Kearny Financial shares last traded at $8.20, with a volume of 265,368 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on KRNY shares. Piper Sandler began coverage on Kearny Financial in a report on Monday, April 27th. They issued an “overweight” rating and a $9.50 target price on the stock. Zacks Research upgraded shares of Kearny Financial to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings lowered Kearny Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.50.

Kearny Financial Stock Down 0.1%

The stock has a 50-day moving average of $7.80 and a 200 day moving average of $7.59. The company has a market capitalization of $530.87 million, a PE ratio of 14.39 and a beta of 0.65. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Kearny Financial had a return on equity of 4.61% and a net margin of 10.39%.The business had revenue of $44.31 million for the quarter, compared to analysts’ expectations of $43.67 million. Sell-side analysts anticipate that Kearny Financial will post 0.61 EPS for the current year.

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, May 6th. This represents a $0.44 annualized dividend and a yield of 5.4%. Kearny Financial’s dividend payout ratio is presently 77.19%.

Insider Transactions at Kearny Financial

In other Kearny Financial news, EVP Timothy A. Swansson sold 4,000 shares of Kearny Financial stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total value of $30,400.00. Following the sale, the executive vice president owned 55,833 shares of the company’s stock, valued at approximately $424,330.80. The trade was a 6.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.44% of the company’s stock.

Institutional Investors Weigh In On Kearny Financial

A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in Kearny Financial by 8.1% during the first quarter. Goldman Sachs Group Inc. now owns 729,773 shares of the savings and loans company’s stock valued at $4,568,000 after purchasing an additional 54,606 shares during the period. Caxton Associates LLP bought a new stake in shares of Kearny Financial in the first quarter valued at $146,000. Empowered Funds LLC lifted its position in shares of Kearny Financial by 8.7% during the 1st quarter. Empowered Funds LLC now owns 181,165 shares of the savings and loans company’s stock valued at $1,134,000 after buying an additional 14,427 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Kearny Financial by 95.0% during the 1st quarter. Jane Street Group LLC now owns 152,595 shares of the savings and loans company’s stock worth $955,000 after acquiring an additional 74,349 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Kearny Financial by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 89,669 shares of the savings and loans company’s stock worth $579,000 after acquiring an additional 4,340 shares during the period. Institutional investors own 71.01% of the company’s stock.

About Kearny Financial

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.