Kearny Financial (NASDAQ:KRNY) Shareholders to Collect $0.11 Quarterly Dividend

Key Points

• Kearny Financial declared a quarterly dividend of $0.11 per share, payable November 18 to shareholders of record on November 4. The annualized dividend is $0.44 per share, yielding approximately 4.7%.
• The dividend appears adequately covered, with a current payout ratio of 55.7%; analysts expect next year’s earnings to support a lower projected payout ratio of 44.0%.
• Kearny Financial shares rose 2.3% to $9.27, while the company’s latest quarterly results slightly missed expectations, reporting $0.16 in EPS versus the $0.17 consensus and revenue of $45.28 million versus $46.97 million expected.

Kearny Financial (NASDAQ:KRNY - Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Stockholders of record on Wednesday, November 4th will be given a dividend of $0.11 per share by the savings and loans company on Wednesday, November 18th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, November 4th.

Kearny Financial has a payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kearny Financial to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 44.0%.

Kearny Financial Stock Up 2.3%

Shares of NASDAQ KRNY traded up $0.21 during mid-day trading on Thursday, hitting $9.27. The company had a trading volume of 744,996 shares, compared to its average volume of 463,442. The company has a market capitalization of $601.89 million, a PE ratio of 16.26 and a beta of 0.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.05 and a quick ratio of 1.05. Kearny Financial has a 1-year low of $6.22 and a 1-year high of $10.23. The business's 50-day simple moving average is $9.52 and its 200 day simple moving average is $8.97.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last released its earnings results on Thursday, October 22nd. The savings and loans company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Kearny Financial had a return on equity of 4.90% and a net margin of 10.45%. The company had revenue of $45.28 million for the quarter, compared to analyst estimates of $46.97 million. On average, analysts predict that Kearny Financial will post 0.79 earnings per share for the current year.

About Kearny Financial

Kearny Financial Corp. is the holding company for Kearny Bank, a community-focused financial institution headquartered in Fairfield, New Jersey. The bank provides a range of banking and financial services to individuals, families, businesses and nonprofit organizations.

Kearny Bank's products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, commercial real estate financing, business loans, construction loans and consumer lending.

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