Kearny Financial (KRNY) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their sell rating on shares of Kearny Financial (NASDAQ:KRNY) in a research note issued to investors on Friday morning. Keefe, Bruyette & Woods currently has a $13.50 target price on the savings and loans company’s stock.

Separately, BidaskClub upgraded shares of Kearny Financial from a strong sell rating to a sell rating in a report on Wednesday.

Shares of Kearny Financial (NASDAQ:KRNY) opened at $13.50 on Friday. The stock has a market cap of $1,082.04, a PE ratio of 71.06 and a beta of 0.49. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. Kearny Financial has a twelve month low of $13.30 and a twelve month high of $15.80.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Tuesday, January 30th. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $30.10 million during the quarter. Kearny Financial had a net margin of 9.40% and a return on equity of 1.77%.

In other news, Director Matthew T. Mcclane sold 13,804 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $14.42, for a total value of $199,053.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodore J. Aanensen sold 3,500 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $14.49, for a total transaction of $50,715.00. The disclosure for this sale can be found here. Insiders sold a total of 19,804 shares of company stock valued at $286,334 in the last 90 days. Company insiders own 3.78% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Kearny Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,524 shares of the savings and loans company’s stock worth $68,422,000 after buying an additional 315,492 shares during the period. State Street Corp increased its stake in Kearny Financial by 4.0% in the 2nd quarter. State Street Corp now owns 1,925,756 shares of the savings and loans company’s stock worth $28,597,000 after buying an additional 74,783 shares during the period. Chicago Equity Partners LLC purchased a new position in Kearny Financial in the 4th quarter worth about $1,059,000. JPMorgan Chase & Co. increased its stake in Kearny Financial by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 569,296 shares of the savings and loans company’s stock worth $8,738,000 after buying an additional 65,553 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new position in Kearny Financial in the 4th quarter worth about $935,000. Hedge funds and other institutional investors own 62.30% of the company’s stock.

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About Kearny Financial

Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.

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