Kearny Financial Corp. (NASDAQ:KRNY) is an undervalued MHC (mutual holding company) thrift, and as a result of a change in regulatory environment from OTS (office of thrift supervision) to OCC (office of controller of the currency), the valuation in the whole space is even more unclear and misunderstood than usual. Combine this with the underanalysed nature of thrift conversions and it creates a compelling investment situation and the chance for significant upside potential…and unusually in this area, there is a potential catalyst to realize value!
KRNY is a Northern New Jersey-based thrift that was founded in 1884. It operates through its wholly-owned subsidiary, Kearny Federal Savings Bank, a federally chartered stock savings bank. They operate...
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