The stock of Kearny Financial (NASDAQ:KRNY) hit a new 52-week high and has $24.21 target or 61.00% above today’s $15.04 share price. The 6 months bullish chart indicates low risk for the $1.33 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $24.21 price target is reached, the company will be worth $811.30M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 300,760 shares traded hands. Kearny Financial (NASDAQ:KRNY) has risen 18.50% since April 15, 2016 and is uptrending. It has outperformed by 13.88% the S&P500.
Kearny Financial (NASDAQ:KRNY) Ratings Coverage
Out of 4 analysts covering Kearny Financial (NASDAQ:KRNY), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Kearny Financial has been the topic of 6 analyst reports since September 3, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods maintained the stock with “Market Perform” rating in Wednesday, September 7 report. Wood maintained the shares of KRNY in a report on Thursday, September 3 with “Market Perform” rating. The company was upgraded on Friday, September 4 by Zacks. The firm earned “Buy” rating on Tuesday, November 24 by Compass Point.
According to Zacks Investment Research, “Kearny Financial Corp. through its subsidiary, Kearny Federal Savings Bank, offers products including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts and certificates of deposit accounts. The Company also offers one-to-four family mortgage loans, multi-family and commercial real estate mortgage loans, home equity loans and home equity lines of credit, construction loans and commercial business loans. Kearny Financial Corp is headquartered in Fairfield, New Jersey.”
More recent Kearny Financial (NASDAQ:KRNY) news were published by: Streetinsider.com which released: “Kearny Financial (KRNY) Declares $0.02 Quarterly Dividend; 0.5% Yield” on November 17, 2016. Also Barrons.com published the news titled: “Kearny Financial Corp.” on August 20, 2015. Seekingalpha.com‘s news article titled: “Barron’s Has It Wrong: Avoid Kearny Financial” with publication date: December 22, 2015 was also an interesting one.
KRNY Company Profile
Kearny Financial Corp., incorporated on September 2, 2014, is the holding firm for Kearny Bank. The Bank is a federally chartered stock savings bank. The Firm is a unitary savings and loan holding company. The Company’s primary business is the ownership and operation of the Bank. The Bank is principally engaged in the business of attracting deposits from the general public in New Jersey and New York and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. As of June 30, 2016, the Company’s primary market area included the counties in which it operates branches, including Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Ocean, Passaic and Union counties in New Jersey and Kings (Brooklyn) and Richmond (Staten Island) counties in New York.
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