Truffle Hound Capital LLC Invests $1.55 Million in Magyar Bancorp, Inc. $MGYR

Truffle Hound Capital LLC bought a new position in Magyar Bancorp, Inc. (NASDAQ:MGYR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 93,241 shares of the bank’s stock, valued at approximately $1,554,000.

Separately, Geode Capital Management LLC raised its stake in Magyar Bancorp by 6.9% during the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after purchasing an additional 4,027 shares during the period. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Stock Performance

Magyar Bancorp stock opened at $16.88 on Tuesday. The firm has a market capitalization of $108.84 million, a PE ratio of 10.82 and a beta of 0.25. Magyar Bancorp, Inc. has a one year low of $12.10 and a one year high of $19.04. The stock’s 50 day moving average price is $17.06 and its 200 day moving average price is $16.61.

Magyar Bancorp (NASDAQ:MGYR) last announced its earnings results on Thursday, October 30th. The bank reported $0.40 earnings per share for the quarter. Magyar Bancorp had a net margin of 15.00% and a return on equity of 8.56%. The business had revenue of $9.25 million during the quarter.

Magyar Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, November 13th. Magyar Bancorp’s dividend payout ratio is 20.51%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a report on Wednesday, October 8th. One investment 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 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.