Kearny Financial (NASDAQ:KRNY) Declares $0.11 Quarterly Dividend

Kearny Financial (NASDAQ:KRNY) declared a quarterly dividend on Thursday, January 22nd. Investors of record on Wednesday, February 4th will be paid a dividend of 0.11 per share by the savings and loans company on Wednesday, February 18th. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Wednesday, February 4th.

Kearny Financial has increased its dividend payment by an average of 0.1%annually over the last three years. Kearny Financial has a dividend payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings.

Kearny Financial Trading Down 1.9%

NASDAQ KRNY traded down $0.16 on Thursday, hitting $8.10. 656,153 shares of the company were exchanged, compared to its average volume of 459,289. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.05 and a quick ratio of 1.04. Kearny Financial has a twelve month low of $5.45 and a twelve month high of $8.50. The firm has a market capitalization of $524.39 million, a P/E ratio of 17.23 and a beta of 0.70. The company’s 50 day moving average price is $7.37 and its 200-day moving average price is $6.78.

Kearny Financial (NASDAQ:KRNY) last released its earnings results on Thursday, January 22nd. The savings and loans company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Kearny Financial had a return on equity of 3.89% and a net margin of 8.57%.The firm had revenue of $43.54 million during the quarter, compared to analysts’ expectations of $44.84 million.

Hedge Funds Weigh In On Kearny Financial

A number of hedge funds have recently modified their holdings of KRNY. Campbell & CO Investment Adviser LLC lifted its holdings in Kearny Financial by 106.7% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 59,922 shares of the savings and loans company’s stock worth $387,000 after purchasing an additional 30,937 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Kearny Financial by 18,309.5% in the second quarter. Nisa Investment Advisors LLC now owns 11,598 shares of the savings and loans company’s stock valued at $75,000 after purchasing an additional 11,535 shares during the period. Brandywine Global Investment Management LLC bought a new position in shares of Kearny Financial in the second quarter valued at approximately $84,000. White Pine Capital LLC lifted its stake in shares of Kearny Financial by 123.5% in the second quarter. White Pine Capital LLC now owns 172,416 shares of the savings and loans company’s stock worth $1,114,000 after buying an additional 95,271 shares during the last quarter. Finally, Fourthstone LLC boosted its holdings in shares of Kearny Financial by 351.4% during the 2nd quarter. Fourthstone LLC now owns 1,109,666 shares of the savings and loans company’s stock worth $7,168,000 after buying an additional 863,816 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

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.