Kearny Financial Corp. (NASDAQ:KRNY) Plans $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 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 6.26%. The ex-dividend date is Wednesday, November 6th.

Kearny Financial has increased its dividend by an average of 11.2% annually over the last three years. Kearny Financial has a dividend payout ratio of 95.7% meaning 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 %

Shares of KRNY stock opened at $7.03 on Friday. The company has a 50-day moving average of $6.77 and a two-hundred day moving average of $6.25. The firm has a market cap of $452.99 million, a PE ratio of 28.12 and a beta of 0.77. Kearny Financial has a 1-year low of $5.28 and a 1-year high of $9.46. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.12 and a quick ratio of 1.12.

Kearny Financial (NASDAQ:KRNY) last posted its earnings results on Thursday, October 24th. The savings and loans company reported $0.10 earnings per share for the quarter, meeting 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 period in the prior year, the firm posted $0.16 earnings per share.

Insider Buying and Selling at Kearny Financial

In other Kearny Financial news, EVP Thomas Demedici sold 6,304 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $6.00, for a total transaction of $37,824.00. Following the sale, the executive vice president now owns 70,614 shares in the company, valued at $423,684. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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