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

Kearny Financial (NASDAQ:KRNY - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders 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 annualized dividend and a yield of 7.13%.

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

Kearny Financial Trading Down 5.6%

Shares of NASDAQ:KRNY traded down $0.37 during trading on Thursday, reaching $6.18. 179,550 shares of the company traded hands, compared to its average volume of 346,428. The firm has a market capitalization of $398.78 million, a price-to-earnings ratio of -5.43 and a beta of 0.72. Kearny Financial has a 52-week low of $5.45 and a 52-week high of $8.59. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.65. The business's fifty day moving average is $6.34 and its 200-day moving average is $6.51.

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 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Kearny Financial had a positive return on equity of 3.32% and a negative net margin of 20.40%.

Institutional Investors Weigh In On Kearny Financial

Several large investors have recently bought and sold shares of the business. Jane Street Group LLC increased its holdings in Kearny Financial by 95.0% in the 1st quarter. Jane Street Group LLC now owns 152,595 shares of the savings and loans company's stock worth $955,000 after buying an additional 74,349 shares in the last quarter. Empowered Funds LLC boosted its position in Kearny Financial by 8.7% in the first quarter. Empowered Funds LLC now owns 181,165 shares of the savings and loans company's stock worth $1,134,000 after purchasing an additional 14,427 shares during the last quarter. Caxton Associates LLP purchased a new position in Kearny Financial in the first quarter worth about $146,000. Finally, Goldman Sachs Group Inc. boosted its position in Kearny Financial by 8.1% in 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 purchasing an additional 54,606 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price objective on Kearny Financial from $7.25 to $7.00 and set a "market perform" rating for the company in a research 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.

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