The company did not provide specific financial guidance for the current quarter or full year in the press release.
Result drivers
Non-recurring charges - Quarter results were affected by a $1.6 million discrete tax charge, $745,000 in severance, and $262,000 in OREO acquisition expense.
Higher net interest income - Net interest income rose 2.9% from the prior quarter, driven by higher loan yields and balances and a reduction in interest-bearing deposits.
Increased non-interest expense - Non-interest expense rose 4.8% from the prior quarter, mainly due to higher salary and benefit costs, severance, and OREO-related expenses.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the banks peer group is "buy".
Wall Street's median 12-month price target for Kearny Financial Corp is $10.50, about 10.8% above its July 22 closing price of $9.48.
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago.
Quarterly results fall on one-time charges
U.S. regional bank's Q4 net income and EPS declined from the prior quarter.
Adjusted EPS for Q4 fell, with results affected by non-recurring charges.
Q4 net interest income rose 2.9% sequentially on higher loan yields and balances.
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