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

Kearny Financial Corp. (NASDAQ:KRNY - Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 0.11 per share by the savings and loans company on Wednesday, May 22nd. This represents a $0.44 annualized dividend and a yield of 7.69%. The ex-dividend date is Tuesday, May 7th.

Kearny Financial has raised its dividend by an average of 11.2% per year over the last three years. Kearny Financial has a dividend payout ratio of 77.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline.

Kearny Financial Stock Down 0.5 %

Shares of KRNY stock traded down $0.03 during trading hours on Friday, reaching $5.72. 325,114 shares of the company's stock were exchanged, compared to its average volume of 454,663. Kearny Financial has a 1 year low of $5.44 and a 1 year high of $9.46. The stock has a market cap of $368.60 million, a PE ratio of 19.72 and a beta of 0.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.97. The stock's fifty day moving average price is $6.13 and its two-hundred day moving average price is $7.23.

Kearny Financial (NASDAQ:KRNY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The savings and loans company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.06). Kearny Financial had a return on equity of 4.44% and a net margin of 5.84%. The business had revenue of $19.83 million for the quarter, compared to analysts' expectations of $42.60 million.

Insider Buying and Selling at Kearny Financial

In related news, Director Christopher Petermann purchased 10,000 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $6.14 per share, with a total value of $61,400.00. Following the completion of the acquisition, the director now owns 56,139 shares of the company's stock, valued at approximately $344,693.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kearny Financial news, Director Melvina Wong-Zaza bought 3,945 shares of Kearny Financial stock in a transaction dated Wednesday, February 14th. The stock was acquired at an average cost of $6.47 per share, with a total value of $25,524.15. Following the purchase, the director now directly owns 6,595 shares in the company, valued at approximately $42,669.65. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher Petermann bought 10,000 shares of Kearny Financial stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $6.14 per share, with a total value of $61,400.00. Following the completion of the purchase, the director now owns 56,139 shares in the company, valued at $344,693.46. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 15,945 shares of company stock valued at $98,664. 8.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered Kearny Financial from a "hold" rating to a "sell" rating in a research report on Friday, January 12th.

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. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.