Kearny Financial (NASDAQ:KRNY) Announces Quarterly Earnings Results, Meets Estimates

by · The Cerbat Gem

Kearny Financial (NASDAQ:KRNY – Get Free Report) issued its earnings results on Thursday. The savings and loans company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10, RTT News reports. The company had revenue of $87.88 million during the quarter, compared to the consensus estimate 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 firm posted $0.16 EPS.

Kearny Financial Price Performance

Shares of KRNY traded down $0.14 during midday trading on Friday, hitting $6.89. 66,469 shares of the company traded hands, compared to its average volume of 426,151. The firm has a 50 day moving average of $6.77 and a 200-day moving average of $6.25. Kearny Financial has a 52 week low of $5.28 and a 52 week high of $9.46. The stock has a market cap of $443.97 million, a price-to-earnings ratio of 28.12 and a beta of 0.77. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.12 and a current ratio of 1.12.

Kearny Financial Dividend Announcement

The business also recently disclosed 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. This represents a $0.44 annualized dividend and a dividend yield of 6.39%. The ex-dividend date is Wednesday, November 6th. Kearny Financial’s dividend payout ratio (DPR) is presently 176.00%.

Insider Buying and Selling at Kearny Financial

In other Kearny Financial news, EVP Thomas Demedici sold 6,304 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $6.00, for a total transaction of $37,824.00. Following the completion of the transaction, the executive vice president now owns 70,614 shares of the company’s stock, valued at $423,684. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.22% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped 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.

Get Our Latest Stock Analysis on Kearny Financial

Kearny Financial Company Profile

(Get Free Report)

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.

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