Magyar Bancorp, Inc. (NASDAQ:MGYR) Declares Quarterly Dividend of $0.10

Magyar Bancorp, Inc. (NASDAQ:MGYR) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Thursday, February 12th will be paid a dividend of 0.10 per share by the bank on Thursday, February 26th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, February 12th. This is a 25.0% increase from Magyar Bancorp’s previous quarterly dividend of $0.08.

Magyar Bancorp Trading Down 1.5%

Shares of NASDAQ MGYR traded down $0.28 during mid-day trading on Friday, reaching $17.61. The company had a trading volume of 980 shares, compared to its average volume of 1,376. The firm has a 50 day simple moving average of $17.36 and a two-hundred day simple moving average of $17.16. Magyar Bancorp has a 52-week low of $13.52 and a 52-week high of $19.04. The stock has a market cap of $115.14 million, a P/E ratio of 11.29 and a beta of 0.23.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings results on Thursday, January 29th. The bank reported $0.50 EPS for the quarter. Magyar Bancorp had a return on equity of 8.47% and a net margin of 15.00%.The company had revenue of $9.65 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Magyar Bancorp in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Magyar Bancorp presently has a consensus rating of “Hold”.

Magyar Bancorp Company Profile

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.