Kearny Financial (KRNY) Rating Increased to Sell at BidaskClub

Kearny Financial (NASDAQ:KRNY) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday.

Separately, Keefe, Bruyette & Woods restated a “sell” rating and issued a $14.00 price objective on shares of Kearny Financial in a report on Friday, December 22nd.

Kearny Financial (KRNY) opened at $13.65 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1,078.08, a P/E ratio of 71.85 and a beta of 0.57. Kearny Financial has a twelve month low of $13.30 and a twelve month high of $15.80.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Tuesday, January 30th. The savings and loans company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $30.10 million during the quarter. Kearny Financial had a net margin of 9.40% and a return on equity of 1.77%.

In related news, Director Theodore J. Aanensen sold 3,500 shares of Kearny Financial stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $14.49, for a total value of $50,715.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew T. Mcclane sold 13,804 shares of Kearny Financial stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $14.42, for a total transaction of $199,053.68. The disclosure for this sale can be found here. Insiders sold 19,804 shares of company stock valued at $286,334 in the last quarter. 3.78% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of KRNY. SG Americas Securities LLC purchased a new position in Kearny Financial in the third quarter worth approximately $304,000. Legal & General Group Plc lifted its stake in Kearny Financial by 46.6% in the second quarter. Legal & General Group Plc now owns 30,720 shares of the savings and loans company’s stock worth $456,000 after acquiring an additional 9,765 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Kearny Financial in the second quarter worth approximately $587,000. Citadel Advisors LLC lifted its stake in Kearny Financial by 142.7% in the third quarter. Citadel Advisors LLC now owns 38,557 shares of the savings and loans company’s stock worth $592,000 after acquiring an additional 22,673 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Kearny Financial by 10.3% during the 2nd quarter. Voya Investment Management LLC now owns 40,946 shares of the savings and loans company’s stock worth $608,000 after buying an additional 3,811 shares during the last quarter. Institutional investors own 62.30% of the company’s stock.

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Kearny Financial 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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