Kearny Financial (NASDAQ:KRNY) Upgraded by Piper Sandler to “Overweight” Rating

Kearny Financial (NASDAQ:KRNY) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage 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 points to a potential upside of 23.55% from the stock’s current price.

Separately, StockNews.com upgraded shares of Kearny Financial from a “sell” rating to a “hold” rating in a report on Monday, October 28th.

Kearny Financial Stock Performance

NASDAQ KRNY opened at $6.88 on Monday. The business has a 50-day moving average price of $7.72 and a 200-day moving average price of $6.99. The firm has a market cap of $444.31 million, a price-to-earnings ratio of -4.74 and a beta of 0.82. Kearny Financial has a twelve month low of $5.28 and a twelve month high of $8.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.99.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Kearny Financial had a negative net margin of 27.43% and a positive return on equity of 3.05%. The business had revenue of $87.88 million during the quarter, compared to analyst estimates of $37.70 million. During the same period last year, the firm posted $0.16 EPS.

Institutional Investors Weigh In On Kearny Financial

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of Kearny Financial by 101.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,419,996 shares of the savings and loans company’s stock worth $8,733,000 after buying an additional 715,500 shares in the last quarter. Millennium Management LLC grew its position in Kearny Financial by 144.1% in the second quarter. Millennium Management LLC now owns 798,200 shares of the savings and loans company’s stock worth $4,909,000 after acquiring an additional 471,155 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Kearny Financial by 79.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 564,572 shares of the savings and loans company’s stock worth $3,879,000 after acquiring an additional 249,437 shares in the last quarter. Barclays PLC increased its stake in Kearny Financial by 26.1% during the third quarter. Barclays PLC now owns 428,421 shares of the savings and loans company’s stock worth $2,944,000 after acquiring an additional 88,771 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Kearny Financial by 3.8% during 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 during the period. Institutional investors 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.