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

Magyar Bancorp, Inc. (NASDAQ:MGYR) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Thursday, August 6th will be given a dividend of 0.10 per share by the bank on Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 6th.

Magyar Bancorp Stock Down 1.2%

NASDAQ:MGYR opened at $17.48 on Friday. Magyar Bancorp has a 12 month low of $16.03 and a 12 month high of $20.00. The company’s 50 day moving average is $17.47 and its 200-day moving average is $17.58. The firm has a market cap of $112.92 million, a price-to-earnings ratio of 9.82 and a beta of 0.22.

Magyar Bancorp (NASDAQ:MGYR) last released its earnings results on Thursday, July 23rd. The bank reported $0.49 earnings per share for the quarter. Magyar Bancorp had a net margin of 18.32% and a return on equity of 9.28%. The firm had revenue of $10.24 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a research report on Friday, July 17th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company 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.