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

Kearny Financial Corp. (NASDAQ:KRNYGet Rating) announced a quarterly dividend on Friday, April 29th, Wall Street Journal reports. Shareholders of record on Wednesday, May 11th will be given a dividend of 0.11 per share by the savings and loans company on Wednesday, May 25th. This represents a $0.44 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Tuesday, May 10th.

Kearny Financial has increased its dividend by an average of 7.7% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Kearny Financial has a dividend payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings.

NASDAQ:KRNY opened at $11.86 on Friday. The company has a market capitalization of $862.82 million, a PE ratio of 11.74 and a beta of 0.75. The company has a 50 day simple moving average of $12.87 and a two-hundred day simple moving average of $13.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.89 and a current ratio of 0.89. Kearny Financial has a fifty-two week low of $11.25 and a fifty-two week high of $13.89.

Kearny Financial (NASDAQ:KRNYGet Rating) last released its earnings results on Thursday, April 28th. The savings and loans company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Kearny Financial had a net margin of 29.83% and a return on equity of 7.25%. During the same quarter in the prior year, the firm posted $0.20 earnings per share.

In other news, EVP Patrick M. Joyce sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $13.26, for a total transaction of $26,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.23% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of KRNY. Norges Bank acquired a new stake in Kearny Financial in the 4th quarter valued at $7,765,000. Parametric Portfolio Associates LLC raised its holdings in shares of Kearny Financial by 44.8% in the 4th quarter. Parametric Portfolio Associates LLC now owns 174,897 shares of the savings and loans company’s stock worth $2,317,000 after acquiring an additional 54,100 shares during the last quarter. Morgan Stanley lifted its position in Kearny Financial by 41.6% in the 2nd quarter. Morgan Stanley now owns 157,026 shares of the savings and loans company’s stock valued at $1,877,000 after acquiring an additional 46,152 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Kearny Financial by 12.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 198,647 shares of the savings and loans company’s stock valued at $2,632,000 after acquiring an additional 21,418 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Kearny Financial by 28.3% during the 4th quarter. Bank of America Corp DE now owns 92,620 shares of the savings and loans company’s stock valued at $1,227,000 after purchasing an additional 20,422 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on KRNY shares. StockNews.com began coverage on shares of Kearny Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler downgraded shares of Kearny Financial from an “overweight” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research report on Thursday, January 6th.

About Kearny Financial (Get Rating)

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.

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Dividend History for Kearny Financial (NASDAQ:KRNY)

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