Kearny Financial (NASDAQ:KRNY) Releases Earnings Results, Hits Estimates

Kearny Financial (NASDAQ:KRNY) posted its quarterly 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 the consensus estimate of $37.70 million. During the same period in the prior year, the business posted $0.16 earnings per share.

Kearny Financial Stock Performance

KRNY stock traded down $0.21 during mid-day trading on Friday, reaching $6.82. 85,910 shares of the stock traded hands, compared to its average volume of 426,245. The firm has a market capitalization of $439.46 million, a PE ratio of 28.12 and a beta of 0.77. The business has a 50-day moving average of $6.77 and a two-hundred day moving average of $6.25. Kearny Financial has a 52 week low of $5.28 and a 52 week high of $9.46. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.27.

Kearny Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend is Wednesday, November 6th. Kearny Financial’s dividend payout ratio is presently 176.00%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, EVP Thomas Demedici sold 6,304 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $6.00, for a total value of $37,824.00. Following the sale, the executive vice president now directly owns 70,614 shares of the company’s stock, valued at approximately $423,684. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.22% of the stock is currently owned by company insiders.

About Kearny Financial

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.