KRNY Stock Recent News

FAIRFIELD, N.J., July 25, 2024 (GLOBE NEWSWIRE) -- Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company of Kearny Bank (the “Bank”), reported a GAAP net loss for the quarter ended June 30, 2024 of $90.1 million, or $1.45 per diluted share, attributable to a non-cash, after-tax, goodwill impairment of $95.3 million. Excluding the impact of the goodwill impairment and other non-recurring transactions, adjusted net income for the quarter ended June 30, 2024 was $5.6 million, or $0.09 per diluted share, as compared to net income of $7.4 million, or $0.12 per diluted share, for the quarter ended March 31, 2024.

FAIRFIELD, N.J., June 20, 2024 (GLOBE NEWSWIRE) -- Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company for Kearny Bank (the “Bank”), announced today that the Board of Directors promoted Keith Suchodolski to Senior Executive Vice President and Chief Operating Officer, effective July 1, 2024. Mr. Suchodolski has held progressive leadership roles within the Company since 2013, most recently serving as Chief Financial Officer since July 2018. In his new role, Mr. Suchodolski's range of responsibilities will broaden to include strategic oversight of retail & business banking, human resources, marketing, corporate finance and corporate administration.

I have been a customer of Kearny Financial since 1999 and have been writing about investing in the company for three years. Seeking Alpha rates the stock as a sell, but I disagree and rate it as a weak buy. Wall Street ratings for the stock have been varied, ranging from strong sell to hold and long.

Seeking Alpha's Quant Ratings gives Kearny Financial poor grades. I'm sticking with my Buy rating.

Kearny recently completed a 10% share buyback. Announces new buyback for up to 4 million shares.