Kearny Financial (NASDAQ:KRNY) Sets New 52-Week High – What’s Next?

Kearny Financial (NASDAQ:KRNY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $8.20 and last traded at $8.2150, with a volume of 162630 shares trading hands. The stock had previously closed at $7.88.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Kearny Financial in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.00.

Kearny Financial Stock Up 3.9%

The company has a market capitalization of $529.90 million, a PE ratio of 17.42 and a beta of 0.70. The business has a 50-day moving average of $7.34 and a 200 day moving average of $6.77. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.05 and a quick ratio of 1.04.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, October 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. Kearny Financial had a return on equity of 3.89% and a net margin of 8.57%.The company had revenue of $42.80 million for the quarter, compared to analyst estimates of $42.43 million.

Institutional Investors Weigh In On Kearny Financial

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. increased its holdings in shares of Kearny Financial by 11,688.6% in the second quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company’s stock valued at $27,000 after buying an additional 4,091 shares in the last quarter. Focus Partners Wealth acquired a new stake in Kearny Financial during the 3rd quarter worth about $76,000. Nisa Investment Advisors LLC lifted its stake in Kearny Financial by 18,309.5% during the second quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company’s stock valued at $75,000 after buying an additional 11,535 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Kearny Financial in the third quarter worth about $78,000. Finally, Man Group plc purchased a new position in shares of Kearny Financial in the third quarter worth approximately $80,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Kearny Financial Company Profile

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company’s core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.