Short Interest in Kearny Financial Corp. (NASDAQ:KRNY) Increases By 6.6%

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

Kearny Financial Stock Performance

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

Kearny Financial (NASDAQ:KRNY) last issued its earnings results 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 company had revenue of $87.88 million during the quarter, compared to analyst estimates of $37.70 million. During the same quarter last year, the business posted $0.16 EPS.

Kearny Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend was Wednesday, November 6th. Kearny Financial’s payout ratio is currently -30.34%.

Analyst Ratings Changes

Several research firms have recently issued reports on KRNY. Piper Sandler upgraded shares of Kearny Financial from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $9.00 to $8.50 in a report on Monday, January 6th. StockNews.com upgraded Kearny Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 28th.

Institutional Investors Weigh In On Kearny Financial

Several institutional investors have recently made changes to their positions in KRNY. Franklin Resources Inc. lifted its stake in shares of Kearny Financial by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 57,506 shares of the savings and loans company’s stock valued at $404,000 after purchasing an additional 1,576 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Kearny Financial by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 23,015 shares of the savings and loans company’s stock worth $142,000 after buying an additional 1,911 shares during the last quarter. FMR LLC lifted its position in shares of Kearny Financial by 40.4% in the third quarter. FMR LLC now owns 8,495 shares of the savings and loans company’s stock worth $58,000 after buying an additional 2,445 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Kearny Financial by 40.9% during the 3rd quarter. Signaturefd LLC now owns 8,813 shares of the savings and loans company’s stock worth $61,000 after acquiring an additional 2,560 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Kearny Financial by 53.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,367 shares of the savings and loans company’s stock valued at $58,000 after acquiring an additional 3,249 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.