Kearny Financial (KRNY) To Go Ex-Dividend on August 12th

Kearny Financial (NASDAQ:KRNY) declared a quarterly dividend on Thursday, July 23rd. Investors of record on Wednesday, August 12th will be given a dividend of 0.11 per share by the savings and loans company on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, August 12th.

Kearny Financial has raised its dividend by an average of 0.1%per year over the last three years. Kearny Financial has a dividend payout ratio of 55.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kearny Financial to earn $1.00 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 44.0%.

Kearny Financial Stock Up 3.1%

KRNY opened at $9.40 on Friday. The company has a market cap of $608.56 million, a PE ratio of 16.49 and a beta of 0.64. Kearny Financial has a twelve month low of $5.76 and a twelve month high of $9.76. The company has a 50-day moving average price of $8.82 and a 200 day moving average price of $8.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.39.

Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Thursday, July 23rd. The savings and loans company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). Kearny Financial had a return on equity of 4.92% and a net margin of 10.45%.The firm had revenue of $45.69 million during the quarter, compared to analyst estimates of $45.61 million. Sell-side analysts expect that Kearny Financial will post 0.8 earnings per share for the current fiscal year.

Insider Transactions at Kearny Financial

In other Kearny Financial news, Director Melvina Wong-Zaza acquired 3,500 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $8.57 per share, for a total transaction of $29,995.00. Following the acquisition, the director owned 33,910 shares in the company, valued at approximately $290,608.70. The trade was a 11.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Curtland E. Fields bought 3,600 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was acquired at an average cost of $8.41 per share, for a total transaction of $30,276.00. Following the completion of the purchase, the director directly owned 43,200 shares in the company, valued at approximately $363,312. This represents a 9.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 24,800 shares of company stock valued at $211,196. 7.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Kearny Financial

A number of institutional investors have recently added to or reduced their stakes in KRNY. Vanguard Group Inc. grew its holdings in Kearny Financial by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,348,893 shares of the savings and loans company’s stock valued at $22,002,000 after buying an additional 133,683 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Kearny Financial by 36.4% during the 4th quarter. AQR Capital Management LLC now owns 2,023,294 shares of the savings and loans company’s stock worth $14,993,000 after acquiring an additional 539,811 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Kearny Financial by 488.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,612,987 shares of the savings and loans company’s stock worth $11,952,000 after acquiring an additional 1,339,062 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Kearny Financial by 6.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,437,222 shares of the savings and loans company’s stock valued at $10,851,000 after acquiring an additional 81,050 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Kearny Financial by 2.3% during the 2nd quarter. Invesco Ltd. now owns 1,206,855 shares of the savings and loans company’s stock valued at $7,796,000 after acquiring an additional 27,460 shares during the last quarter. Hedge funds and other 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.