Kearny Financial (NASDAQ:KRNY) Announces Quarterly Earnings Results, Meets Estimates

Kearny Financial (NASDAQ:KRNY) posted its earnings results on Thursday. The savings and loans company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10, RTT News reports. Kearny Financial had a negative net margin of 26.51% and a positive return on equity of 3.41%. The business had revenue of $87.88 million for the quarter, compared to analyst estimates of $37.70 million. During the same quarter in the prior year, the firm posted $0.16 EPS.

Kearny Financial Price Performance

Shares of KRNY traded down $0.20 during mid-day trading on Friday, reaching $6.83. 85,910 shares of the stock traded hands, compared to its average volume of 426,226. The firm has a fifty day moving average price of $6.77 and a 200 day moving average price of $6.25. The company has a market cap of $440.10 million, a price-to-earnings ratio of 28.12 and a beta of 0.77. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.27. Kearny Financial has a 1 year low of $5.28 and a 1 year high of $9.46.

Kearny Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.44%. Kearny Financial’s dividend payout ratio (DPR) is currently 176.00%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Kearny Financial from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

Insider Activity

In other news, EVP Thomas Demedici sold 6,304 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $6.00, for a total transaction of $37,824.00. Following the completion of the transaction, the executive vice president now directly owns 70,614 shares in the company, valued at $423,684. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.22% of the company’s stock.

Kearny Financial Company Profile

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. It offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts.