Kearny Financial (NASDAQ:KRNY) Stock Rating Upgraded by Piper Sandler

Kearny Financial (NASDAQ:KRNY) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday, Marketbeat reports. The firm currently has a $8.50 price target on the savings and loans company’s stock, down from their previous price target of $9.00. Piper Sandler’s price objective would indicate a potential upside of 22.48% from the company’s previous close.

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 Stock Performance

KRNY opened at $6.94 on Monday. The business has a 50 day moving average price of $7.72 and a two-hundred day moving average price of $7.01. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $448.19 million, a price-to-earnings ratio of -4.79 and a beta of 0.82. Kearny Financial has a 1-year low of $5.28 and a 1-year high of $8.66.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data 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. The business had revenue of $87.88 million during the quarter, compared to analyst estimates of $37.70 million. Kearny Financial had a positive return on equity of 3.05% and a negative net margin of 27.43%. During the same quarter in the prior year, the firm posted $0.16 earnings per share.

Institutional Trading of Kearny Financial

Several institutional investors and hedge funds have recently bought and sold shares of KRNY. AQR Capital Management LLC increased its position in shares of Kearny Financial by 101.6% in the second quarter. AQR Capital Management LLC now owns 1,419,996 shares of the savings and loans company’s stock worth $8,733,000 after acquiring an additional 715,500 shares in the last quarter. Millennium Management LLC boosted its stake in Kearny Financial by 144.1% in the 2nd quarter. Millennium Management LLC now owns 798,200 shares of the savings and loans company’s stock worth $4,909,000 after purchasing an additional 471,155 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Kearny Financial by 79.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 564,572 shares of the savings and loans company’s stock worth $3,879,000 after purchasing an additional 249,437 shares in the last quarter. Barclays PLC raised its stake in Kearny Financial by 26.1% during 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. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Kearny Financial by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 426,700 shares of the savings and loans company’s stock valued at $2,624,000 after purchasing an additional 15,423 shares in the last quarter. 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.