Kearny Financial (NASDAQ:KRNY) Upgraded to “Hold” by StockNews.com

Kearny Financial (NASDAQ:KRNY) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Keefe, Bruyette & Woods lifted their price target on Kearny Financial from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th.

Kearny Financial Price Performance

NASDAQ:KRNY traded up $0.21 during trading hours on Monday, hitting $6.99. 344,429 shares of the stock traded hands, compared to its average volume of 426,824. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.27. Kearny Financial has a 1 year low of $5.28 and a 1 year high of $9.46. The stock has a 50 day moving average price of $6.79 and a 200 day moving average price of $6.27. The company has a market cap of $450.41 million, a price-to-earnings ratio of 27.96 and a beta of 0.77.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Kearny Financial had a positive return on equity of 3.41% and a negative net margin of 26.51%. The company had revenue of $87.88 million for the quarter, compared to analyst estimates of $37.70 million. During the same quarter in the prior year, the firm posted $0.16 EPS.

Insider Buying and Selling

In other news, EVP Thomas Demedici sold 6,304 shares of Kearny Financial stock in a transaction on Monday, August 12th. The shares were sold at an average price of $6.00, for a total value of $37,824.00. Following the transaction, the executive vice president now directly owns 70,614 shares of the company’s stock, valued at $423,684. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.22% of the company’s stock.

Hedge Funds Weigh In On Kearny Financial

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE raised its holdings in Kearny Financial by 122.3% in the third quarter. US Bancorp DE now owns 22,023 shares of the savings and loans company’s stock valued at $151,000 after acquiring an additional 12,116 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Kearny Financial in the third quarter valued at $82,000. Semanteon Capital Management LP acquired a new position in Kearny Financial in the third quarter worth approximately $230,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Kearny Financial during the 3rd quarter worth about $126,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Kearny Financial in the third quarter valued at $121,000. 71.01% of the stock is currently owned by hedge funds and other 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.