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Kearny Financial Corporation (KRNY) reports developments as the holding company for Kearny Bank, a savings-bank business that gathers deposits and uses those funds to originate or purchase loans and invest in securities. Its recurring news centers on quarterly earnings, net interest income and margin trends, residential and commercial real estate lending, credit quality, capital ratios, and cash dividend declarations.
Company updates also cover balance-sheet management, deposit-franchise initiatives, residential lending expansion, operational-efficiency programs such as process automation, and branch-network actions within its New Jersey and New York banking markets.
Kearny Financial Corp. (NASDAQ GS: KRNY) has declared a quarterly cash dividend of $0.10 per share for stockholders of record as of September 1, 2021. The dividend will be payable on September 15, 2021.
The company, the holding entity for Kearny Bank, operates 48 retail branches in New Jersey and New York, with total assets reaching approximately $7.3 billion as of June 30, 2021.
Kearny Financial Corp. (NASDAQ: KRNY) reported net income of $18.5 million, or $0.24 per diluted share, for Q2 FY2021, a rise from $16.4 million or $0.20 in the prior quarter. For the fiscal year ended June 30, 2021, net income surged 40.6% to $63.2 million. The company benefited from a $4.9 million credit loss reversal. Key metrics include a 2.75% net interest margin, 23.5% increase in net interest income to $184.5 million, and a 20.7% rise in cash dividends. Total assets were $7.28 billion, with a 1.64% non-performing loans ratio.
Kearny Financial Corp. (NASDAQ GS: KRNY) has completed its 5% stock repurchase plan, buying back 4,210,520 shares at a total cost of $51.1 million, averaging $12.15 per share. Following this, a new repurchase plan has been initiated, allowing for the acquisition of up to 4,064,649 shares, also approximately 5% of the outstanding stock. Repurchases will be conducted at management's discretion, influenced by market conditions and the company's financial health.
Kearny Financial Corp. (NASDAQ GS: KRNY) has declared a quarterly cash dividend of $0.10 per share to stockholders of record as of June 2, 2021, payable on June 16, 2021. This marks an increase from the previous quarter's dividend of $0.09 per share. As of March 31, 2021, Kearny Financial Corp. boasts total assets of approximately $7.4 billion, with its operations supported by 49 branch offices across New Jersey and New York.
Kearny Financial Corp. (NASDAQ: KRNY) has announced a new stock repurchase program to acquire up to 4,064,649 shares, representing approximately 5% of its outstanding common stock. This plan will start after the current program, which has 321,820 shares remaining. The repurchase will be conducted at management’s discretion, factoring in market conditions and the company's financial performance. The program allows for flexibility in its execution and does not obligate the company to repurchase a specific number of shares.
Kearny Financial Corp. (NASDAQ: KRNY) reported net income of $16.4 million, or $0.20 per share, for Q1 2021, slightly down from $16.9 million in Q4 2020. Total deposits rose by $61.8 million to $5.37 billion, while loans decreased by $30.4 million. Net interest income increased to $47.6 million, aided by reduced interest expenses. Asset quality remained stable with non-performing assets at 0.97%. The company increased its allowance for credit losses to $63.8 million, primarily due to an uptick in reserves for two commercial real estate loans. Book value per share grew to $12.98.
Kearny Financial Corp. (NASDAQ: KRNY) has declared a quarterly cash dividend of $0.09 per share, marking a $0.01 increase from the previous quarter. The dividend is payable on March 17, 2021, to stockholders of record as of March 3, 2021. The company, with total assets of approximately $7.3 billion as of December 31, 2020, operates through Kearny Bank with 49 retail branches in New Jersey and New York.
Kearny Financial Corp. (NASDAQ: KRNY) reported a strong net income of $16.9 million for Q4 2020, translating to $0.20 per diluted share, a notable increase from $11.4 million or $0.13 in Q3 2020. The acquisition of MSB Financial Corp. contributed to core earnings, aided by reduced costs and efficient operations. Total deposits grew by $272.7 million to $5.31 billion, while loans receivable fell by $126.1 million. Share repurchases totaled 4.5 million shares at an average price of $10.14, reflecting strong capital management.
Kearny Financial Corp. (NASDAQ: KRNY) has authorized a new stock repurchase plan to buy back up to 4,210,520 shares, approximately 5% of its outstanding stock. This announcement follows the completion of previous repurchase plans where 9,218,324 and 4,475,523 shares were purchased at costs of $117.9 million and $46.9 million respectively. The repurchases will occur in the open market or through private negotiations, depending on various market factors and management's discretion.
Kearny Financial Corp. (NASDAQ GS: KRNY) has declared a quarterly cash dividend of $0.08 per share for stockholders of record as of December 4, 2020. The dividend will be payable on December 18, 2020. As of September 30, 2020, the company reported approximately $7.3 billion in total assets. Kearny Financial is the parent company of Kearny Bank, which operates 50 retail branches in New Jersey and New York.