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

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

Kearny Financial has increased its dividend payment by an average of 0.1%per year 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 Stock Up 2.3%

Kearny Financial stock opened at $8.05 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. Kearny Financial has a 52-week low of $5.76 and a 52-week high of $8.50. The firm has a 50 day moving average price of $7.71 and a two-hundred day moving average price of $7.39. The firm has a market cap of $521.16 million, a price-to-earnings ratio of 15.48 and a beta of 0.66.

Kearny Financial (NASDAQ:KRNY) last released its quarterly earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. Kearny Financial had a net margin of 9.41% and a return on equity of 4.26%. The firm had revenue of $44.31 million during the quarter, compared to analyst estimates of $43.67 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.