Kearny Financial (NASDAQ:KRNY) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Kearny Financial (NASDAQ:KRNYGet Rating) announced its quarterly earnings results on Thursday. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03, MarketWatch Earnings reports. Kearny Financial had a net margin of 29.83% and a return on equity of 7.25%. During the same period last year, the firm posted $0.20 EPS.

Kearny Financial stock opened at $11.86 on Friday. The company’s fifty day moving average price is $12.87 and its 200 day moving average price is $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. The stock has a market capitalization of $862.82 million, a P/E ratio of 11.74 and a beta of 0.75. Kearny Financial has a 1 year low of $11.25 and a 1 year high of $13.89.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Shareholders of record on Wednesday, May 11th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, May 10th. Kearny Financial’s dividend payout ratio is presently 43.56%.

In related news, EVP Patrick M. Joyce sold 2,000 shares of the business’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $13.26, for a total value of $26,520.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.23% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in Kearny Financial by 23.2% in the second quarter. Royal Bank of Canada now owns 7,761 shares of the savings and loans company’s stock valued at $93,000 after purchasing an additional 1,463 shares in the last quarter. Stifel Financial Corp boosted its holdings in Kearny Financial by 14.2% in the fourth quarter. Stifel Financial Corp now owns 15,771 shares of the savings and loans company’s stock valued at $209,000 after purchasing an additional 1,967 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Kearny Financial by 235.3% in the third quarter. BNP Paribas Arbitrage SA now owns 18,416 shares of the savings and loans company’s stock valued at $229,000 after buying an additional 12,923 shares during the last quarter. Citigroup Inc. lifted its stake in Kearny Financial by 40.4% in the fourth quarter. Citigroup Inc. now owns 28,800 shares of the savings and loans company’s stock valued at $382,000 after buying an additional 8,289 shares during the last quarter. Finally, Barclays PLC lifted its stake in Kearny Financial by 24.8% in the fourth quarter. Barclays PLC now owns 82,361 shares of the savings and loans company’s stock valued at $1,092,000 after buying an additional 16,349 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the stock. StockNews.com started coverage on shares of Kearny Financial in a research note on Thursday, March 31st. They issued 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 target price on the stock. in a 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.

Further Reading

Earnings History for Kearny Financial (NASDAQ:KRNY)

Receive News & Ratings for Kearny Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kearny Financial and related companies with MarketBeat.com's FREE daily email newsletter.