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

Kearny Financial Corp. (NASDAQ:KRNY) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 0.11 per share by the savings and loans company on Wednesday, May 22nd. This represents a $0.44 annualized dividend and a yield of 7.65%. The ex-dividend date is Tuesday, May 7th.

Kearny Financial has raised its dividend by an average of 11.2% annually over the last three years. Kearny Financial has a payout ratio of 77.2% 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 stock opened at $5.75 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $370.53 million, a price-to-earnings ratio of 19.83 and a beta of 0.71. Kearny Financial has a 12 month low of $5.44 and a 12 month high of $9.46. The firm has a 50 day moving average of $6.15 and a two-hundred day moving average of $7.24.

Kearny Financial (NASDAQ:KRNY) last issued its quarterly earnings data on Wednesday, January 31st. The savings and loans company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.06). Kearny Financial had a return on equity of 4.44% and a net margin of 5.84%. The firm had revenue of $19.83 million during the quarter, compared to analyst estimates of $42.60 million.

Insider Activity at Kearny Financial

In other Kearny Financial news, Director Melvina Wong-Zaza acquired 3,945 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was bought at an average price of $6.47 per share, for a total transaction of $25,524.15. Following the purchase, the director now owns 6,595 shares in the company, valued at approximately $42,669.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Christopher Petermann bought 10,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were acquired at an average price of $6.14 per share, with a total value of $61,400.00. Following the acquisition, the director now owns 56,139 shares in the company, valued at $344,693.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Melvina Wong-Zaza bought 3,945 shares of the stock in a transaction dated Wednesday, February 14th. The stock was purchased at an average cost of $6.47 per share, for a total transaction of $25,524.15. Following the acquisition, the director now owns 6,595 shares in the company, valued at approximately $42,669.65. The disclosure for this purchase can be found here. Insiders purchased a total of 15,945 shares of company stock worth $98,664 in the last ninety days. 8.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Kearny Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 12th.

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. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.