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

Kearny Financial Corp. (NASDAQ:KRNY) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Investors 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 annualized dividend and a yield of 6.31%. The ex-dividend date is Wednesday, November 6th.

Kearny Financial has raised its dividend by an average of 11.2% per year over the last three years. Kearny Financial has a payout ratio of 97.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Kearny Financial Stock Down 1.0 %

Shares of KRNY opened at $6.97 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.27. The stock’s fifty day simple moving average is $6.83 and its 200 day simple moving average is $6.31. 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 results 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 2.99% and a negative net margin of 27.43%. The firm had revenue of $87.88 million during the quarter, compared to analysts’ expectations of $37.70 million. During the same quarter in the prior year, the business earned $0.16 EPS.

Analyst Ratings Changes

Several equities analysts have recently commented on KRNY shares. StockNews.com raised Kearny Financial from a “sell” rating to a “hold” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods increased their target price on shares of Kearny Financial from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

Insiders Place Their Bets

In related news, EVP Thomas Demedici sold 6,304 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $6.00, for a total transaction of $37,824.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.56% of the company’s stock.

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.