Kearny Financial Declares Quarterly Dividend of $0.11 (NASDAQ:KRNY)

Key Points

• Kearny Financial has declared a quarterly dividend of $0.11 per share, which will be paid on November 19th to stockholders of record on November 5th, representing a 6.7% dividend yield.
• The company has reported a dividend payout ratio of 55.7%, indicating that the dividend is well-covered by its earnings.
• Kearny Financial's stock is currently priced at $6.57 after a 2.2% decline, with a one-year trading range between $5.45 and $8.59.

Kearny Financial (NASDAQ:KRNY - Get Free Report) announced a quarterly dividend on Wednesday, October 22nd. Stockholders of record on Wednesday, November 5th will be paid a dividend of 0.11 per share by the savings and loans company on Wednesday, November 19th. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Wednesday, November 5th.

Kearny Financial has a dividend payout ratio of 55.7% indicating that its dividend is sufficiently covered by earnings.

Kearny Financial Stock Down 2.2%

KRNY opened at $6.57 on Friday. Kearny Financial has a 1-year low of $5.45 and a 1-year high of $8.59. The stock's fifty day simple moving average is $6.56 and its 200 day simple moving average is $6.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. The stock has a market cap of $425.37 million, a PE ratio of 15.64 and a beta of 0.75.

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

Insider Activity at Kearny Financial

In other news, Director Leopold W. Montanaro purchased 10,000 shares of the company's stock in a transaction dated Friday, September 19th. The shares were purchased at an average price of $6.57 per share, with a total value of $65,700.00. Following the transaction, the director directly owned 265,227 shares of the company's stock, valued at approximately $1,742,541.39. This represents a 3.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kearny Financial

Institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its position in Kearny Financial by 11,688.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,126 shares of the savings and loans company's stock worth $27,000 after acquiring an additional 4,091 shares during the last quarter. GAMMA Investing LLC grew its position in Kearny Financial by 119.6% during the 1st quarter. GAMMA Investing LLC now owns 6,355 shares of the savings and loans company's stock worth $40,000 after acquiring an additional 3,461 shares during the last quarter. State of Wyoming bought a new position in Kearny Financial during the 1st quarter worth approximately $49,000. Entropy Technologies LP bought a new position in Kearny Financial during the 1st quarter worth approximately $68,000. Finally, Nisa Investment Advisors LLC grew its position in Kearny Financial by 18,309.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company's stock worth $75,000 after acquiring an additional 11,535 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

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.

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