Kearny Financial (NASDAQ:KRNY) Upgraded to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Kearny Financial (NASDAQ:KRNY) from a neutral rating to an overweight rating in a report published on Monday morning, MarketBeat Ratings reports. Piper Sandler currently has $8.50 target price on the savings and loans company’s stock, down from their previous target price of $9.00.

Separately, StockNews.com raised shares of Kearny Financial from a “sell” rating to a “hold” rating in a research note on Monday, October 28th.

Kearny Financial Trading Up 3.9 %

Shares of KRNY opened at $7.15 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.99. The stock has a market cap of $461.75 million, a PE ratio of -4.93 and a beta of 0.82. Kearny Financial has a 1 year low of $5.28 and a 1 year high of $8.66. The stock has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $7.00.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Kearny Financial had a positive return on equity of 3.05% and a negative net margin of 27.43%. The company had revenue of $87.88 million during the quarter, compared to analysts’ expectations of $37.70 million. During the same period last year, the business earned $0.16 earnings per share.

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.15%. Kearny Financial’s dividend payout ratio is -30.34%.

Institutional Investors Weigh In On Kearny Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRNY. Bank of New York Mellon Corp lifted its position in shares of Kearny Financial by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 426,700 shares of the savings and loans company’s stock worth $2,624,000 after purchasing an additional 15,423 shares in the last quarter. American Century Companies Inc. lifted its holdings in Kearny Financial by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 391,352 shares of the savings and loans company’s stock worth $2,407,000 after buying an additional 10,220 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Kearny Financial in the 2nd quarter valued at $133,000. Massachusetts Financial Services Co. MA raised its position in shares of Kearny Financial by 124.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 177,805 shares of the savings and loans company’s stock worth $1,094,000 after acquiring an additional 98,598 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Kearny Financial during the second quarter valued at $65,000. Institutional investors and hedge funds own 71.01% 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.