Kearny Financial (NASDAQ:KRNY) Releases Earnings Results, Misses Expectations By $0.01 EPS

Kearny Financial (NASDAQ:KRNY) posted its quarterly earnings results on Thursday. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01), FiscalAI reports. The company had revenue of $45.28 million for the quarter, compared to analyst estimates of $46.97 million. Kearny Financial had a net margin of 10.57% and a return on equity of 5.01%.

Kearny Financial Price Performance

Shares of KRNY stock traded up $0.03 during trading hours on Friday, hitting $9.30. The company’s stock had a trading volume of 708,001 shares, compared to its average volume of 452,581. The business has a fifty day moving average of $9.51 and a 200-day moving average of $8.98. The stock has a market cap of $603.85 million, a price-to-earnings ratio of 16.03 and a beta of 0.65. Kearny Financial has a twelve month low of $6.22 and a twelve month high of $10.23. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.50.

Kearny Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 4th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, November 4th. Kearny Financial’s dividend payout ratio is 77.19%.

Kearny Financial News Summary

Here are the key news stories impacting Kearny Financial this week:

• Positive Sentiment: Kearny Financial declared a quarterly cash dividend of $0.11 per share, equivalent to $0.44 annually and a reported yield of approximately 4.7%. Shareholders of record on November 4 will receive payment on November 18. The dividend may help support investor demand for the stock. Kearny Financial First-Quarter Results and Dividend Announcement
• Positive Sentiment: Fiscal first-quarter earnings increased to $0.16 per share from $0.15 a year earlier, indicating modest year-over-year improvement despite the quarterly estimate miss. Kearny Earnings and Revenue Results
• Neutral Sentiment: Management reported a 4.90% return on equity and a 10.45% net margin, offering context on profitability but not signaling a major change in the company’s outlook. Kearny Financial Press Release
• Negative Sentiment: First-quarter EPS of $0.16 missed the consensus estimate of $0.17, while revenue of $45.28 million came in below the expected $46.97 million. The simultaneous bottom- and top-line misses could limit near-term upside and explain investor caution. Kearny Financial Earnings Miss

Insider Activity at Kearny Financial

In related news, Director Leopold W. Montanaro bought 4,773 shares of Kearny Financial stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $9.46 per share, with a total value of $45,152.58. Following the purchase, the director owned 270,000 shares in the company, valued at $2,554,200. This represents a 1.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Curtland Fields bought 14,700 shares of the stock in a transaction on Monday, July 27th. The shares were bought at an average price of $9.41 per share, for a total transaction of $138,327.00. Following the acquisition, the director owned 57,900 shares in the company, valued at $544,839. The trade was a 34.03% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 21,033 shares of company stock valued at $198,502 over the last 90 days. Insiders own 7.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KRNY shares. Weiss Ratings raised Kearny Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 24th. Raymond James Financial started coverage on Kearny Financial in a research report on Wednesday, August 26th. They set an “outperform” rating and a $11.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.75.

About Kearny Financial

Kearny Financial Corp. is the holding company for Kearny Bank, a community-focused financial institution headquartered in Fairfield, New Jersey. The bank provides a range of banking and financial services to individuals, families, businesses and nonprofit organizations.

Kearny Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, commercial real estate financing, business loans, construction loans and consumer lending.