Truffle Hound Capital LLC Increases Stock Holdings in Magyar Bancorp, Inc. $MGYR

Truffle Hound Capital LLC boosted its stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) by 74.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 162,486 shares of the bank’s stock after buying an additional 69,245 shares during the period. Magyar Bancorp makes up approximately 0.8% of Truffle Hound Capital LLC’s holdings, making the stock its 26th largest holding. Truffle Hound Capital LLC’s holdings in Magyar Bancorp were worth $2,806,000 at the end of the most recent reporting period.

Separately, Geode Capital Management LLC boosted its stake in shares of Magyar Bancorp by 6.9% during the 2nd 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. Institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Trading Down 0.8%

MGYR opened at $18.33 on Friday. The business’s fifty day simple moving average is $17.62 and its 200-day simple moving average is $17.25. Magyar Bancorp, Inc. has a 12-month low of $13.52 and a 12-month high of $20.00. The company has a market capitalization of $119.77 million, a price-to-earnings ratio of 10.59 and a beta of 0.26.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings results on Friday, February 13th. The bank reported $0.50 earnings per share (EPS) for the quarter. The business had revenue of $9.66 million for the quarter. Magyar Bancorp had a return on equity of 9.28% and a net margin of 16.25%.

Magyar Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, February 12th. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.08. Magyar Bancorp’s payout ratio is 23.12%.

Analyst Ratings Changes

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

Magyar Bancorp 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.