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

Kearny Financial Corp. (NASDAQ:KRNY) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders 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 yield of 6.11%. The ex-dividend date is Wednesday, February 12th.

Kearny Financial has increased its dividend by an average of 3.2% per year over the last three years. Kearny Financial has a dividend payout ratio of 55.0% meaning its dividend is sufficiently covered by earnings.

Kearny Financial Stock Performance

Shares of NASDAQ KRNY opened at $7.20 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.99. The firm’s 50-day moving average price is $7.35 and its 200-day moving average price is $7.14. Kearny Financial has a 1-year low of $5.28 and a 1-year high of $8.59.

Kearny Financial (NASDAQ:KRNY) last announced its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). Kearny Financial had a positive return on equity of 3.27% and a negative net margin of 20.05%.

Analyst Upgrades and Downgrades

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

Kearny Financial Company Profile

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.