Kearny Financial (NASDAQ:KRNY) Downgraded by BidaskClub to “Hold”

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BidaskClub downgraded shares of Kearny Financial (NASDAQ:KRNY) from a buy rating to a hold rating in a report published on Tuesday morning, BidAskClub reports.

Separately, Keefe, Bruyette & Woods upgraded Kearny Financial from an underperform rating to a market perform rating and upped their price target for the company from $11.50 to $12.50 in a research report on Thursday, April 4th.

KRNY stock opened at $13.63 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $1.25 billion, a PE ratio of 27.33 and a beta of 0.50. Kearny Financial has a 1 year low of $11.26 and a 1 year high of $14.55.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Monday, April 29th. The savings and loans company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $42.31 million during the quarter. Kearny Financial had a return on equity of 3.69% and a net margin of 16.51%.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.76%.

In related news, EVP Thomas Demedici sold 4,789 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $13.20, for a total value of $63,214.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Keith Suchodolski sold 27,608 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $13.92, for a total value of $384,303.36. The disclosure for this sale can be found here. Insiders sold 42,897 shares of company stock valued at $587,933 over the last 90 days. Company insiders own 3.62% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning lifted its holdings in Kearny Financial by 6.7% in the first quarter. Creative Planning now owns 22,689 shares of the savings and loans company’s stock valued at $292,000 after acquiring an additional 1,429 shares during the last quarter. SG Americas Securities LLC acquired a new position in Kearny Financial in the first quarter valued at approximately $191,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kearny Financial by 23.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,162 shares of the savings and loans company’s stock valued at $92,000 after acquiring an additional 1,365 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Kearny Financial in the fourth quarter valued at approximately $126,000. Finally, Norges Bank acquired a new position in Kearny Financial in the fourth quarter valued at approximately $9,731,000. Hedge funds and other institutional investors own 63.18% 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. The company 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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