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 research report released on Monday, Marketbeat Ratings reports. Piper Sandler currently has $8.50 price objective on the savings and loans company’s stock, down from their previous price objective of $9.00.

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

Kearny Financial Stock Up 3.9 %

Shares of NASDAQ:KRNY opened at $7.15 on Monday. The company has a 50 day moving average price of $7.73 and a two-hundred day moving average price of $7.00. The company has a market capitalization of $461.75 million, a PE ratio of -4.93 and a beta of 0.82. Kearny Financial has a 52 week low of $5.28 and a 52 week high of $8.66. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.08 and a current ratio of 1.08.

Kearny Financial (NASDAQ:KRNY) last posted its earnings results on Thursday, October 24th. The savings and loans company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Kearny Financial had a positive return on equity of 3.05% and a negative net margin of 27.43%. The firm had revenue of $87.88 million for the quarter, compared to analyst estimates of $37.70 million. During the same period in the previous year, the company posted $0.16 earnings per share.

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.44 annualized dividend and a yield of 6.15%. Kearny Financial’s dividend payout ratio (DPR) is presently -30.34%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Kearny Financial by 161.1% in the third quarter. JPMorgan Chase & Co. now owns 239,689 shares of the savings and loans company’s stock valued at $1,647,000 after buying an additional 147,892 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Kearny Financial by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 57,506 shares of the savings and loans company’s stock worth $404,000 after purchasing an additional 1,576 shares during the last quarter. Barclays PLC raised its holdings in shares of Kearny Financial by 26.1% in the 3rd quarter. Barclays PLC now owns 428,421 shares of the savings and loans company’s stock valued at $2,944,000 after purchasing an additional 88,771 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Kearny Financial by 65.1% in the third quarter. Public Employees Retirement System of Ohio now owns 59,245 shares of the savings and loans company’s stock valued at $407,000 after buying an additional 23,370 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Kearny Financial by 116.1% during the 3rd quarter. Jane Street Group LLC now owns 127,433 shares of the savings and loans company’s stock worth $875,000 after acquiring an additional 68,473 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.