Kearny Financial (NASDAQ:KRNY) Announces Quarterly Earnings Results

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

Kearny Financial Price Performance

KRNY stock opened at $6.78 on Friday. The business’s 50-day moving average is $6.78 and its two-hundred day moving average is $6.25. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $437.85 million, a P/E ratio of -4.88 and a beta of 0.77. Kearny Financial has a 1 year low of $5.28 and a 1 year high of $9.46.

Kearny Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.44 annualized dividend and a yield of 6.49%. Kearny Financial’s dividend payout ratio (DPR) is -31.65%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Kearny Financial

In related news, EVP Thomas Demedici sold 6,304 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $6.00, for a total value of $37,824.00. Following the sale, the executive vice president now owns 70,614 shares of the company’s stock, valued at $423,684. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.56% of the company’s stock.

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.