Kearny Financial Corp. (NASDAQ:KRNY) Short Interest Update

Kearny Financial Corp. (NASDAQ:KRNY) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 420,000 shares, an increase of 6.6% from the December 15th total of 394,100 shares. Based on an average trading volume of 360,700 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.7% of the company’s stock are sold short.

Kearny Financial Stock Up 0.8 %

NASDAQ:KRNY opened at $7.23 on Tuesday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $466.91 million, a price-to-earnings ratio of -4.99 and a beta of 0.82. Kearny Financial has a one year low of $5.28 and a one year high of $8.59. The stock has a 50-day simple moving average of $7.63 and a 200 day simple moving average of $7.08.

Kearny Financial (NASDAQ:KRNY) last issued its earnings results on Thursday, October 24th. The savings and loans company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $87.88 million during the quarter, compared to analyst estimates of $37.70 million. Kearny Financial had a positive return on equity of 3.05% and a negative net margin of 27.43%. During the same quarter last year, the firm earned $0.16 EPS.

Kearny Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.09%. Kearny Financial’s dividend payout ratio (DPR) is -30.34%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KRNY. American Century Companies Inc. lifted its holdings in Kearny Financial by 2.7% in the second quarter. American Century Companies Inc. now owns 391,352 shares of the savings and loans company’s stock worth $2,407,000 after acquiring an additional 10,220 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Kearny Financial in the 2nd quarter worth approximately $133,000. Massachusetts Financial Services Co. MA boosted its position in Kearny Financial by 124.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 177,805 shares of the savings and loans company’s stock valued at $1,094,000 after purchasing an additional 98,598 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in Kearny Financial in the second quarter worth $65,000. Finally, Hsbc Holdings PLC bought a new stake in Kearny Financial in the second quarter valued at $149,000. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KRNY shares. Piper Sandler upgraded Kearny Financial from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $9.00 to $8.50 in a research note on Monday, January 6th. StockNews.com raised shares of Kearny Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 28th.

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.