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IVR

Sector Update: Financials

Financial shares are lower in today's pre-market session as more investors anticipate an end to the Federal Reserve's bond-buying program is on the horizon.

In financial stocks news, Invesco Mortgage Capital Inc. ( IVR ) will repurchase an additional 20 million shares of its common stock with no stated expiration date.

During Q4 2013, purchases related to the share repurchase program authorized by the Board in December 2011 totaled approximately $102.9 million, representing approximately 6.84 million shares for an average price of $15.02.

IVR closed down 2% yesterday at $14.79, near its 52-week low of $14.40.

And, Kearny Financial Corp. ( KRNY ) has completed its seventh stock repurchase plan by acquiring 5% of the company's outstanding common stock held by persons other than its parent mutual holding company, Kearny MHC.

Additionally, the company announced that the Board of Directors has authorized an eighth stock repurchase plan to acquire up to 762,640 shares or 5% of the company's currently outstanding common stock held by persons other than Kearny MHC.

KRNY closed down about 2% yesterday at $10.22, trading in a 52-week range of $8.80 to $11.05.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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