Kearny Financial (KRNY) Rating Lowered to Sell at BidaskClub

Kearny Financial (NASDAQ:KRNY) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods restated a “sell” rating and set a $13.50 price target on shares of Kearny Financial in a research note on Friday, February 2nd. ValuEngine upgraded Kearny Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd.

Shares of NASDAQ:KRNY opened at $14.30 on Wednesday. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 54.04 and a beta of 0.53. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.86. Kearny Financial has a 12 month low of $14.05 and a 12 month high of $14.15.

In other news, EVP Patrick M. Joyce sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $14.00, for a total value of $70,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John F. Regan sold 7,000 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $14.11, for a total value of $98,770.00. The disclosure for this sale can be found here. Corporate insiders own 3.78% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Kearny Financial by 1.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 385,413 shares of the savings and loans company’s stock worth $5,570,000 after buying an additional 3,716 shares during the period. Wells Fargo & Company MN boosted its position in shares of Kearny Financial by 3.3% in the first quarter. Wells Fargo & Company MN now owns 168,817 shares of the savings and loans company’s stock worth $2,195,000 after buying an additional 5,338 shares during the period. California Public Employees Retirement System boosted its position in shares of Kearny Financial by 37.3% in the first quarter. California Public Employees Retirement System now owns 27,779 shares of the savings and loans company’s stock worth $361,000 after buying an additional 7,545 shares during the period. UBS Group AG boosted its position in shares of Kearny Financial by 51.3% in the first quarter. UBS Group AG now owns 27,449 shares of the savings and loans company’s stock worth $356,000 after buying an additional 9,308 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Kearny Financial by 75.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 21,914 shares of the savings and loans company’s stock worth $285,000 after buying an additional 9,451 shares during the period. 65.21% of the stock is owned by institutional investors.

Kearny Financial Company Profile

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.

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