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

Kearny Financial Corp. (NASDAQ:KRNY) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors 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 of this dividend is Tuesday, May 7th.

Kearny Financial has increased its dividend by an average of 11.2% annually 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 fall.

Kearny Financial Stock Down 0.5 %

NASDAQ KRNY traded down $0.03 during mid-day trading on Friday, hitting $5.72. The company’s stock had a trading volume of 325,114 shares, compared to its average volume of 454,663. The company’s 50 day simple moving average is $6.13 and its 200 day simple moving average is $7.23. Kearny Financial has a twelve month low of $5.44 and a twelve month high of $9.46. 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 firm has a market capitalization of $368.60 million, a price-to-earnings ratio of 19.72 and a beta of 0.71.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Kearny Financial from a “hold” rating to a “sell” rating in a report on Friday, January 12th.

Insiders Place Their Bets

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

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. 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.