Kearny Financial Corp. (NASDAQ:KRNY) Sees Significant Increase in Short Interest

Kearny Financial Corp. (NASDAQ:KRNY) saw a significant 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. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 360,700 shares, the short-interest ratio is currently 1.2 days.

Kearny Financial Stock Performance

Shares of KRNY stock opened at $6.83 on Tuesday. 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 firm has a 50-day moving average of $7.41 and a 200-day moving average of $7.14. Kearny Financial has a one year low of $5.28 and a one year high of $8.59. The company has a market cap of $441.08 million, a P/E ratio of -6.04 and a beta of 0.81.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data 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 negative net margin of 20.05% and a positive return on equity of 3.27%.

Kearny Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.11 per share. 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 currently -38.94%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its holdings in shares of Kearny Financial by 144.1% in the 2nd quarter. Millennium Management LLC now owns 798,200 shares of the savings and loans company’s stock worth $4,909,000 after buying an additional 471,155 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Kearny Financial by 79.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 564,572 shares of the savings and loans company’s stock valued at $3,879,000 after acquiring an additional 249,437 shares during the last quarter. Barclays PLC boosted its stake in Kearny Financial by 26.1% in the third quarter. Barclays PLC now owns 428,421 shares of the savings and loans company’s stock valued at $2,944,000 after acquiring an additional 88,771 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Kearny Financial by 161.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 239,689 shares of the savings and loans company’s stock worth $1,647,000 after purchasing an additional 147,892 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Kearny Financial by 46.1% during the 3rd quarter. Creative Planning now owns 191,969 shares of the savings and loans company’s stock worth $1,319,000 after purchasing an additional 60,541 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

KRNY has been the topic of several recent research reports. Piper Sandler raised shares of Kearny Financial from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $9.00 to $8.50 in a research report on Monday, January 6th. StockNews.com upgraded Kearny Financial from a “sell” rating to a “hold” rating in a 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.