Kearny Financial Inc (NASDAQ:KRNY) Reports Quarterly Earnings, Beats Estimates by $0.03 EPS
Kearny Financial (NASDAQ:KRNY – Get a rating) released its financial results on Thursday. The savings and loan company reported earnings per share of $0.25 for the quarter, beating Thomson Reuters consensus estimate of $0.22 by $0.03, MarketWatch Earnings reports. Kearny Financial had a return on equity of 7.25% and a net margin of 29.83%. In the same quarter a year earlier, the company posted EPS of $0.20.
NASDAQ: KRNY was down $0.18 at midday on Friday, hitting $11.86. 453,848 shares of the company were traded, compared to its average volume of 349,810. The company has a fifty-day moving average of $12.89 and a 200-day moving average of $13.11. The company has a debt ratio of 0.69, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $862.85 million, a P/E ratio of 12.54 and a beta of 0.75. Kearny Financial has a 12-month low of $11.25 and a 12-month high of $13.89.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 25. Investors of record on Wednesday, May 11 will receive a dividend of $0.11 per share. This represents an annualized dividend of $0.44 and a yield of 3.71%. The ex-dividend date is Tuesday, May 10. Kearny Financial’s dividend payout ratio is currently 45.83%.
A number of stock analysts have recently released reports on KRNY shares. Piper Sandler downgraded Kearny Financial from an “overweight” rating to a “neutral” rating and set a price target of $14.00 for the company. in a report on Thursday, January 6. StockNews.com began covering Kearny Financial in a report on Thursday, March 31. They issued a “hold” rating for the company.
In other news, EVP Patrick M. Joyce sold 2,000 shares in a trade dated Friday, March 11. The stock was sold at an average price of $13.26, for a total value of $26,520.00. The sale was disclosed in an SEC filing, which is available via this link. 6.23% of the shares are currently held by company insiders.
A number of institutional investors have been buying and selling stocks recently. Norges Bank bought a new position in Kearny Financial during the fourth quarter worth approximately $7,765,000. Parametric Portfolio Associates LLC increased its holdings of Kearny Financial shares by 44.8% in the fourth quarter. Parametric Portfolio Associates LLC now owns 174,897 shares of the savings and loan company valued at $2,317,000 after purchasing an additional 54,100 shares in the last quarter. Morgan Stanley increased its holdings of Kearny Financial shares by 41.6% in the second quarter. Morgan Stanley now owns 157,026 shares of the savings and loan company valued at $1,877,000 after buying an additional 46,152 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Kearny Financial by 12.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 198,647 shares of the savings and loan company worth $2,632,000 after acquiring 21,418 additional shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Kearny Financial by 28.3% during the fourth quarter. Bank of America Corp DE now owns 92,620 shares of the savings and loan company worth $1,227,000 after acquiring 20,422 additional shares in the last quarter. 63.69% of the shares are currently held by hedge funds and other institutional investors.
Kearny Financial Company Profile (Get a rating)
Kearny Financial Corp. is the holding company of Kearny Bank which provides various banking products and services in the United States. The Company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts and certificates of deposit accounts.
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