Kearny Financial Corp. (NASDAQ:KRNY) to Issue $0.11 Quarterly Dividend

Kearny Financial Corp. (NASDAQ:KRNY) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Wednesday, November 6th will be given 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 is Wednesday, November 6th.

Kearny Financial has raised its dividend 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 Trading Down 2.8 %

NASDAQ:KRNY opened at $7.03 on Friday. The company has a market capitalization of $452.99 million, a PE ratio of 28.12 and a beta of 0.77. Kearny Financial has a 52-week low of $5.28 and a 52-week high of $9.46. The stock has a fifty day simple moving average of $6.77 and a 200-day simple moving average of $6.25. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.27.

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

Insider Activity at Kearny Financial

In other Kearny Financial news, EVP Thomas Demedici sold 6,304 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $6.00, for a total value of $37,824.00. Following the sale, the executive vice president now directly owns 70,614 shares in the company, valued at approximately $423,684. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Kearny Financial from $6.00 to $7.00 and gave the company a “market perform” rating in a report 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.