Kearny Financial (KRNY) To Go Ex-Dividend on November 4th

Kearny Financial (NASDAQ:KRNY) announced a quarterly dividend on Wednesday, October 21st. Shareholders 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 4.8%. 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. Research analysts expect Kearny Financial to earn $0.98 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 44.9%.

Kearny Financial Stock Performance

Shares of KRNY opened at $9.12 on Monday. Kearny Financial has a 52-week low of $6.22 and a 52-week high of $10.23. The stock has a fifty day moving average price of $9.45 and a two-hundred day moving average price of $8.63. The company has a market cap of $592.16 million, a price-to-earnings ratio of 15.72 and a beta of 0.63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.05 and a current ratio of 1.05.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings data on Thursday, October 22nd. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $45.28 million during the quarter, compared to the consensus estimate of $46.97 million. Kearny Financial had a net margin of 10.57% and a return on equity of 5.01%. Analysts predict that Kearny Financial will post 0.75 EPS for the current fiscal year.

Insider Transactions at Kearny Financial

In related news, Director Leopold W. Montanaro purchased 4,773 shares of Kearny Financial stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $9.46 per share, for a total transaction of $45,152.58. Following the acquisition, the director owned 270,000 shares in the company, valued at approximately $2,554,200. The trade was a 1.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.68% of the company’s stock.

Institutional Investors Weigh In On Kearny Financial

Several institutional investors have recently bought and sold shares of KRNY. BlackRock Inc. purchased a new position in shares of Kearny Financial during the 2nd quarter valued at approximately $84,461,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Kearny Financial by 6.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock worth $10,851,000 after purchasing an additional 81,050 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Kearny Financial during the second quarter worth approximately $3,685,000. Algert Global LLC raised its position in Kearny Financial by 59.2% in the second quarter. Algert Global LLC now owns 370,979 shares of the savings and loans company’s stock worth $3,509,000 after acquiring an additional 137,933 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its position in Kearny Financial by 2.8% during the third quarter. Hennessy Advisors Inc. now owns 298,000 shares of the savings and loans company’s stock worth $2,730,000 after purchasing an additional 8,000 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Kearny Financial

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.