Magyar Bancorp (NASDAQ:MGYR) Issues Earnings Results

Magyar Bancorp (NASDAQ:MGYR) released its quarterly earnings results on Thursday. The bank reported $0.50 earnings per share (EPS) for the quarter, Zacks reports. Magyar Bancorp had a net margin of 15.00% and a return on equity of 8.47%.

Magyar Bancorp Stock Performance

MGYR traded down $0.30 during midday trading on Thursday, reaching $17.58. 1,994 shares of the company were exchanged, compared to its average volume of 1,382. The company has a market cap of $114.92 million, a price-to-earnings ratio of 11.27 and a beta of 0.23. Magyar Bancorp has a one year low of $13.52 and a one year high of $19.04. The company’s fifty day moving average price is $17.34 and its 200 day moving average price is $17.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Magyar Bancorp

An institutional investor recently raised its position in Magyar Bancorp stock. Geode Capital Management LLC raised its position in Magyar Bancorp, Inc. (NASDAQ:MGYR) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,433 shares of the bank’s stock after buying an additional 4,027 shares during the period. Geode Capital Management LLC owned 0.96% of Magyar Bancorp worth $1,051,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 46.32% of the company’s stock.

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.