Kearny Financial (KRNY) Releases Earnings Results, Beats Estimates By $0.02 EPS
Kearny Financial (NASDAQ:KRNY) posted its quarterly earnings data on Monday. The savings and loans company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02, Bloomberg Earnings reports. Kearny Financial had a net margin of 12.37% and a return on equity of 1.70%. The company had revenue of $29.90 million during the quarter.
Shares of Kearny Financial (NASDAQ:KRNY) remained flat at $15.10 during midday trading on Tuesday. 122,837 shares of the stock traded hands. The company has a market capitalization of $1.22 billion, a PE ratio of 68.64 and a beta of 0.61. Kearny Financial has a 12 month low of $13.35 and a 12 month high of $16.10. The stock’s 50-day moving average price is $15.16 and its 200 day moving average price is $14.67.
The company also recently announced 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%. This is a boost from Kearny Financial’s previous special dividend of $0.02. The ex-dividend date was Tuesday, October 3rd. Kearny Financial’s dividend payout ratio is presently 57.15%.
KRNY has been the topic of a number of research analyst reports. BidaskClub cut shares of Kearny Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $13.00 target price on shares of Kearny Financial in a report on Thursday, August 3rd.
In other Kearny Financial news, Director Theodore J. Aanensen sold 2,000 shares of Kearny Financial stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $14.11, for a total value of $28,220.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.78% of the company’s stock.
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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