Kearny Financial (NASDAQ:KRNY) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Kearny Financial (NASDAQ:KRNY) announced its earnings results on Thursday. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01), FiscalAI reports. Kearny Financial had a return on equity of 3.89% and a net margin of 8.57%.The company had revenue of $43.54 million for the quarter, compared to the consensus estimate of $44.84 million.

Kearny Financial Trading Up 4.8%

Shares of KRNY stock opened at $8.26 on Thursday. The firm has a market capitalization of $534.75 million, a P/E ratio of 17.57 and a beta of 0.70. Kearny Financial has a 1 year low of $5.45 and a 1 year high of $8.30. The firm’s fifty day simple moving average is $7.37 and its 200 day simple moving average is $6.78. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 1.60.

Wall Street Analyst Weigh In

KRNY has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kearny Financial in a report on Friday, October 31st. Piper Sandler boosted their target price on shares of Kearny Financial from $7.50 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. PharVision Advisers LLC bought a new stake in shares of Kearny Financial in the third quarter valued at about $123,000. Qube Research & Technologies Ltd lifted its position in shares of Kearny Financial by 120.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 51,364 shares of the savings and loans company’s stock worth $337,000 after acquiring an additional 28,090 shares during the period. Numerai GP LLC grew its holdings in shares of Kearny Financial by 146.4% during the 3rd quarter. Numerai GP LLC now owns 135,309 shares of the savings and loans company’s stock worth $889,000 after purchasing an additional 80,386 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Kearny Financial during the 3rd quarter worth approximately $188,000. Finally, Focus Partners Wealth bought a new stake in shares of Kearny Financial during the third quarter valued at approximately $76,000. Institutional investors own 71.01% of the company’s stock.

About Kearny Financial

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.