Kearny Financial Corp. (NASDAQ:KRNY) to Issue $0.11 Quarterly Dividend

Kearny Financial Corp. (NASDAQ:KRNY) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors of record on Wednesday, February 12th will be given a dividend of 0.11 per share by the savings and loans company on Wednesday, February 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date is Wednesday, February 12th.

Kearny Financial has increased its dividend by an average of 3.2% annually over the last three years. Kearny Financial has a dividend payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings.

Kearny Financial Stock Performance

Shares of NASDAQ KRNY opened at $6.90 on Friday. Kearny Financial has a 1 year low of $5.28 and a 1 year high of $8.59. The firm has a market cap of $445.60 million, a P/E ratio of -4.76 and a beta of 0.82. The stock has a fifty day moving average price of $7.44 and a two-hundred day moving average price of $7.13. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.08 and a current ratio of 1.08.

Kearny Financial (NASDAQ:KRNY) last announced its earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Kearny Financial had a negative net margin of 27.43% and a positive return on equity of 3.05%.

Analysts Set New Price Targets

KRNY has been the topic of several recent research reports. Piper Sandler raised shares of Kearny Financial from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $9.00 to $8.50 in a research note on Monday, January 6th. StockNews.com upgraded shares of Kearny Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 28th.

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.