Kearny Financial (KRNY) Receiving Somewhat Favorable News Coverage, Analysis Finds
News coverage about Kearny Financial (NASDAQ:KRNY) has trended somewhat positive on Wednesday, Accern reports. The research firm identifies negative and positive media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Kearny Financial earned a daily sentiment score of 0.13 on Accern’s scale. Accern also gave news coverage about the savings and loans company an impact score of 46.3433546362012 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Several equities analysts recently issued reports on KRNY shares. Keefe, Bruyette & Woods restated a “sell” rating and set a $13.00 price objective on shares of Kearny Financial in a research note on Thursday, August 3rd. BidaskClub cut Kearny Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th.
Shares of Kearny Financial (NASDAQ KRNY) remained flat at $14.15 during trading on Wednesday. The company’s stock had a trading volume of 231,833 shares. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 64.32 and a beta of 0.58. The stock has a 50 day moving average price of $14.54 and a 200 day moving average price of $14.75. Kearny Financial has a 52-week low of $13.40 and a 52-week high of $16.10.
Kearny Financial (NASDAQ:KRNY) last posted its quarterly earnings data on Friday, July 28th. The savings and loans company reported $0.05 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.05. Kearny Financial had a return on equity of 1.68% and a net margin of 12.37%. The firm had revenue of $29.75 million for the quarter. On average, equities research analysts anticipate that Kearny Financial will post $0.24 earnings per share for the current fiscal year.
Kearny Financial declared that its board has approved a share buyback program on Wednesday, May 24th that authorizes the company to buyback 8,560,000 outstanding shares. This buyback authorization authorizes the savings and loans company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 30th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.85%. Kearny Financial’s dividend payout ratio (DPR) is presently 57.15%.
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Kearny Financial Company Profile
Kearny Bank is principally engaged in the business of attracting deposits from the general public at its 41 locations in New Jersey and using these deposits, together with other funds, to originate or purchase loans for its portfolio and invest in securities. Loans originated or purchased by the Bank generally include loans collateralized by residential and commercial real estate augmented by secured and unsecured loans to businesses and consumers.
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