Kearny Financial Corp rise after Piper Sandler upgrades to 'overweight'

Kearny Financial

06/01/2025 12:35

** Shares of Kearny Financial Corp  KRNY.O  up ~4% at $7.15
premarket
    ** Brokerage Piper Sandler upgrades stock to "overweight"
from "neutral", raises PT to $9 from $8.50
    ** Says risk-to-reward ratio has become attractive; expects
higher profitability on improved net interest margin, modest
balance sheet growth and controlled operating costs
    ** Says dividend is "attractive and sustainable", based on
the Q3's "best in industry" payout of 11 cents; expects the
higher profitability to normalize the current high
dividend-to-profit ratio
    ** Also says co's balance sheet is conservative, and sees co
as an attractive takeover candidate eventually, based on its
desirable and sizeable franchise in central and northern New
Jersey marketplace
    ** KRNY stock fell 21% in 2024

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))