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

Key Points

• Kearny Financial declared a quarterly dividend of $0.11 per share, payable on May 20 to shareholders of record on May 6, implying a ~5.5% yield and a payout ratio of 55.7%, indicating the dividend is covered by earnings.
• The company reported Q results with $0.15 EPS (in line) and $44.31M revenue (above consensus), shares rose ~2.3% to $8.05, and analysts maintain an average "Hold" rating with a consensus target of $8.00.

Kearny Financial (NASDAQ:KRNY - Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Wednesday, May 6th will be paid a dividend of 0.11 per share by the savings and loans company on Wednesday, May 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, May 6th.

Kearny Financial has raised its dividend payment by an average of 0.1%annually over the last three years. Kearny Financial has a payout ratio of 55.7% indicating that its dividend is sufficiently covered by earnings.

Kearny Financial Trading Up 2.3%

Shares of KRNY stock traded up $0.18 during mid-day trading on Thursday, reaching $8.05. The company's stock had a trading volume of 421,834 shares, compared to its average volume of 366,454. The company's 50 day simple moving average is $7.71 and its 200-day simple moving average is $7.39. Kearny Financial has a 12-month low of $5.76 and a 12-month high of $8.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $521.16 million, a PE ratio of 15.48 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last issued its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 EPS for the quarter, meeting analysts' consensus estimates of $0.15. Kearny Financial had a net margin of 9.41% and a return on equity of 4.26%. The business had revenue of $44.31 million for the quarter, compared to the consensus estimate of $43.67 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Kearny Financial in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.00.

Kearny Financial Company Profile

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company's core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.

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