BidaskClub Lowers Kearny Financial (KRNY) to Sell

BidaskClub downgraded shares of Kearny Financial (NASDAQ:KRNY) from a hold rating to a sell rating in a report published on Wednesday morning.

KRNY has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated 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 shares of Kearny Financial from a sell rating to a hold rating in a research note on Wednesday, May 2nd.

Shares of Kearny Financial stock opened at $14.35 on Wednesday. The firm has a market cap of $1.46 billion, a PE ratio of 55.00 and a beta of 0.53. Kearny Financial has a 1-year low of $12.75 and a 1-year high of $15.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.10 and a current ratio of 1.10.

In other news, EVP Patrick M. Joyce sold 5,000 shares of Kearny Financial stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $14.00, for a total transaction of $70,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leopold W. Montanaro purchased 4,000 shares of the company’s stock in a transaction dated Thursday, May 3rd. The shares were acquired at an average price of $14.09 per share, for a total transaction of $56,360.00. The disclosure for this purchase can be found here. Company insiders own 3.78% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its stake in shares of Kearny Financial by 1.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 385,413 shares of the savings and loans company’s stock valued at $5,570,000 after buying an additional 3,716 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Kearny Financial by 3.3% during the 1st quarter. Wells Fargo & Company MN now owns 168,817 shares of the savings and loans company’s stock valued at $2,195,000 after buying an additional 5,338 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Kearny Financial by 37.3% during the 1st quarter. California Public Employees Retirement System now owns 27,779 shares of the savings and loans company’s stock valued at $361,000 after buying an additional 7,545 shares in the last quarter. UBS Group AG lifted its stake in shares of Kearny Financial by 51.3% during the 1st quarter. UBS Group AG now owns 27,449 shares of the savings and loans company’s stock valued at $356,000 after buying an additional 9,308 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Kearny Financial by 75.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 21,914 shares of the savings and loans company’s stock valued at $285,000 after buying an additional 9,451 shares in the last quarter. Institutional investors own 65.21% of the company’s stock.

About Kearny Financial

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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