Kearny Financial (KRNY) Rating Lowered to Sell at BidaskClub

Kearny Financial (NASDAQ:KRNY) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $13.50 price target on shares of Kearny Financial in a report on Friday, February 2nd. ValuEngine raised Kearny Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.

NASDAQ KRNY opened at $14.30 on Wednesday. Kearny Financial has a fifty-two week low of $14.05 and a fifty-two week high of $14.15. The firm has a market capitalization of $1.11 billion, a PE ratio of 54.04 and a beta of 0.53. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.86.

In related news, Director John F. Regan sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $14.11, for a total value of $98,770.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick M. Joyce sold 5,000 shares of the company’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $14.00, for a total value of $70,000.00. The disclosure for this sale can be found here. Corporate insiders own 3.78% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP acquired a new position in Kearny Financial in the fourth quarter valued at $166,000. Oppenheimer Asset Management Inc. increased its stake in Kearny Financial by 75.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 21,914 shares of the savings and loans company’s stock worth $285,000 after acquiring an additional 9,451 shares during the last quarter. Citigroup Inc. increased its stake in Kearny Financial by 71.4% during the first quarter. Citigroup Inc. now owns 23,686 shares of the savings and loans company’s stock worth $308,000 after acquiring an additional 9,869 shares during the last quarter. Jane Street Group LLC acquired a new stake in Kearny Financial during the fourth quarter worth about $339,000. Finally, Salzhauer Michael acquired a new stake in Kearny Financial during the fourth quarter worth about $349,000. Hedge funds and other institutional investors own 65.21% 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.

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