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

Kearny Financial (NASDAQ:KRNY - Get Free Report) declared a quarterly dividend on Wednesday, July 23rd, RTT News reports. Stockholders of record on Tuesday, August 12th will be paid a dividend of 0.11 per share by the savings and loans company on Tuesday, August 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date is Tuesday, August 12th.

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

Kearny Financial Stock Up 0.8%

Shares of Kearny Financial stock traded up $0.05 on Monday, reaching $6.24. 247,530 shares of the company were exchanged, compared to its average volume of 350,282. The stock's 50 day moving average price is $6.33 and its 200-day moving average price is $6.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $402.98 million, a P/E ratio of 14.86 and a beta of 0.72. Kearny Financial has a 1-year low of $5.45 and a 1-year high of $8.59.

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

Hedge Funds Weigh In On Kearny Financial

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of Kearny Financial by 8.1% during the first quarter. Goldman Sachs Group Inc. now owns 729,773 shares of the savings and loans company's stock worth $4,568,000 after acquiring an additional 54,606 shares during the last quarter. Empowered Funds LLC grew its position in shares of Kearny Financial by 8.7% during the first quarter. Empowered Funds LLC now owns 181,165 shares of the savings and loans company's stock worth $1,134,000 after acquiring an additional 14,427 shares during the last quarter. Jane Street Group LLC grew its position in shares of Kearny Financial by 95.0% during the first quarter. Jane Street Group LLC now owns 152,595 shares of the savings and loans company's stock worth $955,000 after acquiring an additional 74,349 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of Kearny Financial during the first quarter worth approximately $146,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered their price target on Kearny Financial from $7.25 to $7.00 and set a "market perform" rating for the company in a report on Tuesday, April 29th.

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.