Magyar Bancorp (NASDAQ:MGYR) Posts Earnings Results

Magyar Bancorp (NASDAQ:MGYR) posted its earnings results on Thursday. The bank reported $0.33 EPS for the quarter, Zacks reports. Magyar Bancorp had a net margin of 14.91% and a return on equity of 7.18%.

Magyar Bancorp Stock Up 0.9 %

Shares of Magyar Bancorp stock opened at $14.31 on Friday. The business has a 50 day moving average price of $14.14 and a 200-day moving average price of $12.92. Magyar Bancorp has a 52 week low of $10.30 and a 52 week high of $14.74. The company has a market cap of $94.04 million, a PE ratio of 11.54 and a beta of 0.30.

Magyar Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be issued a dividend of $0.06 per share. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.68%. Magyar Bancorp’s payout ratio is currently 16.13%.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.