Kearny Financial $KRNY Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Kearny Financial (KRNY) by 21.3%, selling 126,687 shares and currently holding 467,890 shares valued at approximately $2.93 million.
• Kearny Financial recently announced a quarterly dividend of $0.11 per share, with an annualized yield of 6.5%, despite a high dividend payout ratio of 104.76%.
• The company's most recent earnings report showed earnings per share of $0.11, which fell short of analysts' expectations of $0.13, as revenue was also below the consensus estimate.

Charles Schwab Investment Management Inc. decreased its position in shares of Kearny Financial (NASDAQ:KRNY - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 467,890 shares of the savings and loans company's stock after selling 126,687 shares during the period. Charles Schwab Investment Management Inc. owned about 0.72% of Kearny Financial worth $2,929,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Kearny Financial by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,582,275 shares of the savings and loans company's stock worth $25,362,000 after purchasing an additional 18,710 shares during the period. Vanguard Group Inc. grew its holdings in shares of Kearny Financial by 3.6% in the first quarter. Vanguard Group Inc. now owns 3,166,121 shares of the savings and loans company's stock valued at $19,820,000 after purchasing an additional 111,390 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Kearny Financial by 0.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 566,426 shares of the savings and loans company's stock worth $4,010,000 after buying an additional 1,854 shares during the period. Northern Trust Corp increased its stake in Kearny Financial by 4.2% during the 4th quarter. Northern Trust Corp now owns 530,796 shares of the savings and loans company's stock worth $3,758,000 after buying an additional 21,599 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Kearny Financial by 11.0% during the 1st quarter. Bank of New York Mellon Corp now owns 370,916 shares of the savings and loans company's stock worth $2,322,000 after buying an additional 36,711 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Kearny Financial Stock Down 0.3%

KRNY stock traded down $0.02 during midday trading on Thursday, hitting $6.70. The company's stock had a trading volume of 371,334 shares, compared to its average volume of 387,709. The firm has a 50-day simple moving average of $6.38 and a 200-day simple moving average of $6.31. The firm has a market capitalization of $433.83 million, a P/E ratio of 15.95 and a beta of 0.78. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.71. Kearny Financial has a 52-week low of $5.45 and a 52-week high of $8.59.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Kearny Financial had a net margin of 7.59% and a return on equity of 3.49%. The company had revenue of $40.83 million during the quarter, compared to analyst estimates of $41.16 million.

Kearny Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Tuesday, August 12th. Kearny Financial's dividend payout ratio (DPR) is presently 104.76%.

About Kearny Financial

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.