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

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KRNY. Piper Sandler upgraded Kearny Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $9.00 to $8.50 in a research note 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 Trading of Kearny Financial

Large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. grew its position 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 buying an additional 3,249 shares during the last quarter. FMR LLC lifted its stake in Kearny Financial by 40.4% during the third quarter. FMR LLC now owns 8,495 shares of the savings and loans company’s stock valued at $58,000 after purchasing an additional 2,445 shares during the last quarter. Signaturefd LLC lifted its position in shares of Kearny Financial by 40.9% in the 3rd quarter. Signaturefd LLC now owns 8,813 shares of the savings and loans company’s stock valued at $61,000 after acquiring an additional 2,560 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Kearny Financial in the 3rd quarter valued at approximately $61,000. Finally, Ieq Capital LLC acquired a new position in Kearny Financial in the 4th quarter valued at approximately $73,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Kearny Financial Trading Down 1.0 %

KRNY stock opened at $6.83 on Tuesday. The stock has a market cap of $441.08 million, a price-to-earnings ratio of -6.04 and a beta of 0.81. The business’s 50-day moving average is $7.41 and its 200 day moving average is $7.14. Kearny Financial has a 12-month low of $5.28 and a 12-month high of $8.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.99.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Kearny Financial had a positive return on equity of 3.27% and a negative net margin of 20.05%.

Kearny Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.44 dividend on an annualized basis and a yield of 6.44%. Kearny Financial’s dividend payout ratio (DPR) is presently -38.94%.

About Kearny Financial

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.