Market Runner: What’s in Kearny Financial After Making 52-Week High?

Market Runner: What's in Kearny Financial After Making 52 Week High?

The stock of Kearny Financial (NASDAQ:KRNY) hit a new 52-week high and has $20.70 target or 41.00% above today’s $14.68 share price. The 9 months bullish chart indicates low risk for the $1.29 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $20.70 price target is reached, the company will be worth $528.90M 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 692,524 shares traded hands or 62.83% up from the average. Kearny Financial (NASDAQ:KRNY) has risen 14.48% since April 11, 2016 and is uptrending. It has outperformed by 8.33% 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. The stock has “Buy” rating given by Zacks on Friday, September 4. Wood maintained it with “Market Perform” rating and $12 target price in Thursday, September 3 report. On Wednesday, September 7 the stock rating was maintained by Keefe Bruyette & Woods with “Market Perform”. The rating was maintained by Compass Point on Tuesday, November 24 with “Buy”.

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 important recent Kearny Financial (NASDAQ:KRNY) news were published by: Seekingalpha.com which released: “Barron’s Has It Wrong: Avoid Kearny Financial” on December 22, 2015, also Barrons.com published article titled: “Kearny Financial Corp.”, Streetinsider.com published: “Kearny Financial (KRNY) Completes Conversion to Stock Holding Company” on May 18, 2015. More interesting news about Kearny Financial (NASDAQ:KRNY) was released by: Prnewswire.com and their article: “Savings & Loans Stocks Technical Reports — Kearny Financial, Astoria …” with publication date: October 20, 2016.

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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