Kearny Financial (KRNY) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Kearny Financial (NASDAQ:KRNY) released its quarterly earnings results on Monday. The savings and loans company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02, Bloomberg Earnings reports. The company had revenue of $29.90 million during the quarter. Kearny Financial had a net margin of 12.31% and a return on equity of 1.76%.
Shares of Kearny Financial (NASDAQ:KRNY) traded up 1.00% on Wednesday, reaching $15.20. 33,560 shares of the company traded hands. The company has a market capitalization of $1.23 billion, a PE ratio of 69.09 and a beta of 0.61. The firm has a 50-day moving average price of $15.19 and a 200 day moving average price of $14.67. Kearny Financial has a one year low of $13.35 and a one year high of $16.10.
The business also recently declared a special dividend, which was paid on Wednesday, October 18th. Stockholders of record on Wednesday, October 4th were issued a $0.12 dividend. This represents a dividend yield of 0.79%. The ex-dividend date of this dividend was Tuesday, October 3rd. This is a boost from Kearny Financial’s previous special dividend of $0.02. Kearny Financial’s dividend payout ratio is 52.17%.
In other news, Director Theodore J. Aanensen sold 2,000 shares of Kearny Financial stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $14.11, for a total value of $28,220.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.78% of the company’s stock.
Several research firms have recently weighed in on KRNY. BidaskClub cut shares of Kearny Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $13.00 price target on shares of Kearny Financial in a report on Thursday, August 3rd.
About Kearny Financial
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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