Kearny Financial (NASDAQ:KRNY) Declares Quarterly Dividend of $0.11

Kearny Financial (NASDAQ:KRNY) announced a quarterly dividend on Thursday, April 23rd. Stockholders of record on Wednesday, May 6th will be given a dividend of 0.11 per share by the savings and loans company on Wednesday, May 20th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, May 6th.

Kearny Financial has increased its dividend payment by an average of 0.1%per year over the last three years. Kearny Financial has a payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings.

Kearny Financial Stock Up 2.3%

Shares of KRNY traded up $0.18 during midday trading on Thursday, hitting $8.05. The company had a trading volume of 421,834 shares, compared to its average volume of 366,454. The company’s 50 day moving average price is $7.71 and its 200 day moving average price is $7.39. The stock has a market cap of $521.16 million, a price-to-earnings ratio of 15.48 and a beta of 0.66. Kearny Financial has a 52 week low of $5.76 and a 52 week high of $8.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Thursday, April 23rd. The savings and loans company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $44.31 million during the quarter, compared to the consensus estimate of $43.67 million. Kearny Financial had a net margin of 9.41% and a return on equity of 4.26%.

Insider Transactions at Kearny Financial

In related news, EVP Patrick M. Joyce sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $7.65, for a total transaction of $30,600.00. Following the completion of the sale, the executive vice president owned 54,365 shares of the company’s stock, valued at $415,892.25. This represents a 6.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Swansson sold 4,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.60, for a total transaction of $30,400.00. Following the sale, the executive vice president directly owned 55,833 shares of the company’s stock, valued at approximately $424,330.80. This represents a 6.69% decrease in their position. The SEC filing for this sale provides additional information. 7.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kearny Financial

A number of institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC grew its position in shares of Kearny Financial by 13.9% during the 4th quarter. Corient Private Wealth LLC now owns 25,792 shares of the savings and loans company’s stock valued at $191,000 after buying an additional 3,144 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Kearny Financial by 36.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,996 shares of the savings and loans company’s stock valued at $289,000 after buying an additional 10,326 shares during the last quarter. Empowered Funds LLC grew its position in shares of Kearny Financial by 6.1% during the 4th quarter. Empowered Funds LLC now owns 237,469 shares of the savings and loans company’s stock valued at $1,760,000 after buying an additional 13,678 shares during the last quarter. XTX Topco Ltd acquired a new position in Kearny Financial during the 4th quarter valued at about $97,000. Finally, nVerses Capital LLC acquired a new position in Kearny Financial during the 4th quarter valued at about $76,000. Institutional investors own 71.01% of the company’s stock.

About Kearny Financial

Kearny Financial, Inc was the bank holding company for Kearny Bank, a New Jersey–based community bank offering a full suite of commercial and consumer banking services. Through its subsidiary, the company provided deposit products, lending facilities and electronic banking solutions to individuals, small businesses and middle-market corporations.

The company’s core products included checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, equipment financing, home equity lines of credit and consumer installment loans.