Seeking Alpha

One more savings bank started a Buy at Compass Point

  • In addition to starting three other savings banks with Buys, analyst Laurie Hunsicker initiates Kearny Financial (KRNY) with a Buy as well (along with $19 price target).
  • "The key to the investment thesis sits in understanding the MHC (Mutual Holding Company) structure and the potential implications for existing shareholders in the event of a second-step IPO," says Hunsicker, noting meaningful downside protection thanks to the buyback opportunity on shares trading below book.
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