Kearny Financial (NASDAQ:KRNY) Shares Cross Above 200-Day Moving Average - Should You Sell?
Kearny Financial (NASDAQ:KRNY) shares have crossed above their 200-day moving average of $6.34, trading at $6.57 with a volume of 381,620 shares. Analysts have a consensus rating of "Hold" with a price target of $7.75. The company reported earnings of $0.11 per share, missing estimates. Insiders have increased their holdings, and institutional investors own 71.01% of the stock. Kearny Financial operates as a holding company for Kearny Bank, providing various banking services in the U.S.
Kearny Financial (NASDAQ:KRNY - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.34 and traded as high as $6.74. Kearny Financial shares last traded at $6.57, with a volume of 381,620 shares traded.
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Analysts Set New Price Targets
Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Kearny Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.75.
Check Out Our Latest Stock Report on Kearny Financial
Kearny Financial Stock Down 2.2%
The company has a market capitalization of $425.41 million, a PE ratio of 15.64 and a beta of 0.75. The company's 50 day moving average is $6.56 and its two-hundred day moving average is $6.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.71.
Kearny Financial (NASDAQ:KRNY - Get Free Report) last posted its earnings results on Thursday, July 24th. The savings and loans company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $40.83 million for the quarter, compared to analysts' expectations of $41.16 million. Kearny Financial had a net margin of 7.59% and a return on equity of 3.49%.
Insiders Place Their Bets
In other Kearny Financial news, Director Leopold W. Montanaro acquired 10,000 shares of the stock in a transaction on Friday, September 19th. The stock was acquired at an average price of $6.57 per share, for a total transaction of $65,700.00. Following the completion of the transaction, the director directly owned 265,227 shares of the company's stock, valued at $1,742,541.39. This trade represents a 3.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.44% of the company's stock.
Hedge Funds Weigh In On Kearny Financial
Several institutional investors have recently bought and sold shares of the business. CWM LLC lifted its position in Kearny Financial by 62.5% during the third quarter. CWM LLC now owns 77,701 shares of the savings and loans company's stock valued at $510,000 after purchasing an additional 29,880 shares during the last quarter. Osaic Holdings Inc. lifted its position in Kearny Financial by 11,688.6% during the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company's stock valued at $27,000 after purchasing an additional 4,091 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Kearny Financial by 12.2% during the second quarter. Thrivent Financial for Lutherans now owns 134,216 shares of the savings and loans company's stock valued at $867,000 after purchasing an additional 14,631 shares during the last quarter. State of Wyoming lifted its position in Kearny Financial by 249.4% during the second quarter. State of Wyoming now owns 27,376 shares of the savings and loans company's stock valued at $177,000 after purchasing an additional 19,541 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its position in Kearny Financial by 188.5% during the second quarter. Evergreen Capital Management LLC now owns 29,867 shares of the savings and loans company's stock valued at $193,000 after purchasing an additional 19,514 shares during the last quarter. Institutional investors own 71.01% of the company's stock.
About Kearny Financial
(Get Free Report)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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