Kearny Financial Corp. Declares Quarterly Dividend of $0.11 (NASDAQ:KRNY)

Kearny Financial Corp. (NASDAQ:KRNY) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Wednesday, November 6th will be paid a dividend of 0.11 per share by the savings and loans company on Wednesday, November 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend is Wednesday, November 6th.

Kearny Financial has raised its dividend payment by an average of 11.2% annually over the last three years. Kearny Financial has a dividend payout ratio of 95.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Kearny Financial Stock Performance

KRNY opened at $7.03 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.27. The firm’s 50-day moving average price is $6.77 and its 200 day moving average price is $6.25. The firm has a market capitalization of $452.99 million, a PE ratio of 28.12 and a beta of 0.77. Kearny Financial has a twelve month low of $5.28 and a twelve month high of $9.46.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Kearny Financial had a positive return on equity of 3.41% and a negative net margin of 26.51%. During the same quarter last year, the company earned $0.16 EPS.

Insider Activity

In related news, EVP Thomas Demedici sold 6,304 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $6.00, for a total transaction of $37,824.00. Following the completion of the transaction, the executive vice president now owns 70,614 shares of the company’s stock, valued at approximately $423,684. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.22% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price target on Kearny Financial from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th.

Kearny Financial Company Profile

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.