Magyar Bancorp (NASDAQ:MGYR) Releases Earnings Results

Magyar Bancorp (NASDAQ:MGYR) issued its quarterly earnings results on Thursday. The bank reported $0.50 earnings per share for the quarter, Zacks reports. Magyar Bancorp had a return on equity of 8.47% and a net margin of 15.00%.The firm had revenue of $9.65 million for the quarter.

Magyar Bancorp Stock Performance

NASDAQ MGYR traded down $0.28 on Friday, reaching $17.61. 980 shares of the stock traded hands, compared to its average volume of 1,376. Magyar Bancorp has a 12 month low of $13.52 and a 12 month high of $19.04. The company has a market cap of $115.14 million, a price-to-earnings ratio of 11.29 and a beta of 0.23. The company has a fifty day moving average price of $17.36 and a 200-day moving average price of $17.16.

Magyar Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, February 12th. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.08. Magyar Bancorp’s dividend payout ratio (DPR) is 20.51%.

Institutional Trading of Magyar Bancorp

An institutional investor recently raised its position in Magyar Bancorp stock. Dimensional Fund Advisors LP increased its holdings in Magyar Bancorp, Inc. (NASDAQ:MGYR) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,352 shares of the bank’s stock after acquiring an additional 737 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.10% of Magyar Bancorp worth $2,311,000 as of its most recent SEC filing. Institutional investors and hedge funds own 46.32% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magyar Bancorp in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, 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.