Kearny Financial (NASDAQ:KRNY) Raised to Overweight at Piper Sandler

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 on Monday,Briefing.com Automated Import reports. The brokerage currently has a $8.50 target price on the savings and loans company’s stock, down from their prior target price of $9.00. Piper Sandler’s price objective would suggest a potential upside of 23.55% from the company’s current price.

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

Kearny Financial Stock Down 0.3 %

KRNY opened at $6.88 on Monday. 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. The firm has a 50 day moving average price of $7.72 and a 200-day moving average price of $6.99. The stock has a market capitalization of $444.31 million, a price-to-earnings ratio of -4.74 and a beta of 0.82.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, October 24th. The savings and loans company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates 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 negative net margin of 27.43% and a positive return on equity of 3.05%. During the same period in the previous year, the business earned $0.16 EPS.

Institutional Investors Weigh In On Kearny Financial

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Kearny Financial by 101.6% during the second quarter. AQR Capital Management LLC now owns 1,419,996 shares of the savings and loans company’s stock valued at $8,733,000 after purchasing an additional 715,500 shares in the last quarter. Millennium Management LLC raised its stake in shares of 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 buying an additional 471,155 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of 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 valued at $3,879,000 after buying an additional 249,437 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Kearny Financial by 161.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 239,689 shares of the savings and loans company’s stock valued at $1,647,000 after acquiring an additional 147,892 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Kearny Financial by 259.3% in the 2nd quarter. Squarepoint Ops LLC now owns 136,691 shares of the savings and loans company’s stock worth $841,000 after acquiring an additional 98,643 shares in the last quarter. 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.