Kearny Financial (NASDAQ:KRNY) Shares Will Pay Quarterly Dividend of $0.11

Kearny Financial (NASDAQ:KRNY – Get Free Report) announced a quarterly dividend on Wednesday, October 21st. Investors of record on Wednesday, November 4th will be paid a dividend of $0.11 per share by the savings and loans company on Wednesday, November 18th. This represents a $0.44 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, November 4th.

Kearny Financial has a payout ratio of 55.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kearny Financial to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 44.0%.

Kearny Financial Trading Up 2.3%

Shares of NASDAQ:KRNY opened at $9.27 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $601.90 million, a price-to-earnings ratio of 16.26 and a beta of 0.65. Kearny Financial has a 1-year low of $6.22 and a 1-year high of $10.23. The company has a 50 day moving average price of $9.51 and a 200 day moving average price of $8.98.

Kearny Financial (NASDAQ:KRNY – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Kearny Financial had a net margin of 10.45% and a return on equity of 4.90%. The company had revenue of $45.28 million during the quarter, compared to the consensus estimate of $46.97 million. On average, research analysts anticipate that Kearny Financial will post 0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KRNY. Weiss Ratings upgraded Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 24th. Piper Sandler upped their target price on Kearny Financial from $9.50 to $10.50 and gave the company an “overweight” rating in a report on Thursday, June 25th. Finally, Raymond James Financial initiated coverage on Kearny Financial in a research report on Wednesday, August 26th. They issued an “outperform” rating and a $11.00 price target for the company. Three 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 a consensus rating of “Moderate Buy” and an average target price of $10.75.

Read Our Latest Stock Analysis on KRNY

Kearny Financial Company Profile

(Get Free Report)

Kearny Financial Corp. is the holding company for Kearny Bank, a community-focused financial institution headquartered in Fairfield, New Jersey. The bank provides a range of banking and financial services to individuals, families, businesses and nonprofit organizations.

Kearny Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, commercial real estate financing, business loans, construction loans and consumer lending.

Further Reading

Dividend History for Kearny Financial (NASDAQ:KRNY)

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