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

** 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;))