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

Kearny Financial Corp. (NASDAQ:KRNY) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Wednesday, February 12th will be given a dividend of 0.11 per share by the savings and loans company on Wednesday, February 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend is Wednesday, February 12th.

Kearny Financial has increased its dividend by an average of 3.2% per year over the last three years. Kearny Financial has a dividend payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings.

Kearny Financial Stock Performance

Shares of KRNY opened at $6.90 on Friday. Kearny Financial has a 52 week low of $5.28 and a 52 week high of $8.59. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $445.60 million, a PE ratio of -4.76 and a beta of 0.82. The company’s 50 day moving average price is $7.44 and its 200 day moving average price is $7.13.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Kearny Financial had a positive return on equity of 3.05% and a negative net margin of 27.43%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KRNY. StockNews.com raised Kearny Financial from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Piper Sandler raised shares of Kearny Financial from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $9.00 to $8.50 in a research report on Monday, January 6th.

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.