Zacks Investment Research upgraded
Kearny Financial Corp.
) to a Zacks Rank #1 (Strong Buy) on June 12, 2013.
FIRST PACTRUST (BANC): Free Stock Analysis
GREAT SOUTH BCP (GSBC): Free Stock Analysis
KEARNY FINL CP (KRNY): Get Free Report
MUTUALFIRST FIN (MFSF): Free Stock Analysis
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Why the Upgrade?
Positive revision in earnings estimates and share price gain of
roughly 6.5% since the announcement of fiscal third quarter 2013
(ended Mar 31) results on May 2, 2013 raise optimism for better
financial results ahead for Kearny Financial.
Earnings per share in the quarter were 3 cents compared with 2
cents earned in the sequential quarter and 200% above the Zacks
Consensus Estimate of a cent. The sequential increase can be
attributed to higher net interest and non-interest income in the
quarter. However, the results were, to some extent, offset by
higher non-interest expense in the quarter that registered a 58%
Following the release of the fiscal third quarter 2013 results in
the last 60 days, the Zacks Consensus Estimate for Kearny
Financial increased 40% to 7 cents for 2013 and rose by 100% to 8
cents for 2014.
Additionally, increase in earnings estimate as well as positive
earnings surprise in two trailing quarters with an average of
125%, raise optimism for the Kearny Financial's performance in
the quarters ahead.
Other Stocks to Consider
Kearny Financial through its subsidiary Kearny Federal Savings
Bank, provides financial services to its customers in New Jersey.
The company has a $673 million market capitalization currently.
Other stocks to watch out for in the industry are
First Pactrust Bancorp, Inc.
Mutualfirst Financial Inc.
Great Southern Bancorp Inc.
), each with a Zacks Rank #1 (Strong Buy).