Magyar Bancorp (NASDAQ:MGYR) Issues Earnings Results

Magyar Bancorp (NASDAQ:MGYR) released its quarterly earnings data on Friday. The bank reported $0.39 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $9.25 million for the quarter. Magyar Bancorp had a net margin of 15.00% and a return on equity of 8.56%.

Magyar Bancorp Trading Up 3.6%

NASDAQ:MGYR opened at $17.75 on Friday. The company has a 50-day moving average price of $16.94 and a 200-day moving average price of $16.90. The stock has a market cap of $114.49 million, a price-to-earnings ratio of 11.38 and a beta of 0.25. Magyar Bancorp has a 12 month low of $13.52 and a 12 month high of $19.04.

Magyar Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Thursday, November 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, November 13th. Magyar Bancorp’s dividend payout ratio (DPR) is currently 20.51%.

Institutional Trading of Magyar Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Close LLC bought a new stake in Magyar Bancorp during the 3rd quarter valued at approximately $416,000. Geode Capital Management LLC lifted its stake in shares of Magyar Bancorp by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 4,027 shares during the period. Truffle Hound Capital LLC purchased a new position in shares of Magyar Bancorp in the 2nd quarter valued at approximately $1,554,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Magyar Bancorp by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after purchasing an additional 737 shares in the last quarter. 46.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Magyar Bancorp currently has an average rating of “Hold”.

About Magyar Bancorp

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp’s operations focus on relationship banking, emphasizing personalized service and community engagement.

The company’s product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.