Kearny Financial (NASDAQ:KRNY) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Kearny Financial (NASDAQ:KRNY) from a neutral rating to an overweight rating in a research note issued to investors on Monday, MarketBeat.com 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 upgraded shares of Kearny Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 28th.

Kearny Financial Stock Performance

Shares of NASDAQ:KRNY opened at $6.94 on Monday. 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 business’s fifty day moving average price is $7.72 and its two-hundred day moving average price is $7.01. Kearny Financial has a fifty-two week low of $5.28 and a fifty-two week high of $8.59. The stock has a market capitalization of $448.19 million, a price-to-earnings ratio of -4.79 and a beta of 0.82.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.10 EPS for the quarter, hitting 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 business had revenue of $87.88 million for the quarter, compared to analyst estimates of $37.70 million. During the same period in the prior year, the company earned $0.16 EPS.

Kearny Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders 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 dividend on an annualized basis and a yield of 6.34%. Kearny Financial’s payout ratio is presently -30.34%.

Institutional Investors Weigh In On Kearny Financial

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Kearny Financial by 3.8% during the 2nd 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 acquiring an additional 15,423 shares during the period. American Century Companies Inc. grew its stake in shares of Kearny Financial by 2.7% during the second quarter. American Century Companies Inc. now owns 391,352 shares of the savings and loans company’s stock worth $2,407,000 after purchasing an additional 10,220 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Kearny Financial in the second quarter valued at about $133,000. Massachusetts Financial Services Co. MA lifted its stake in Kearny Financial by 124.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 177,805 shares of the savings and loans company’s stock valued at $1,094,000 after buying an additional 98,598 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Kearny Financial during the second quarter worth about $65,000. 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.