Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Update

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a large decline in short interest in February. As of February 13th, there was short interest totaling 7,151 shares, a decline of 43.7% from the January 29th total of 12,700 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 5,902 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 5,902 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.1% of the company’s stock are short sold.

Magyar Bancorp Trading Down 1.4%

Shares of MGYR stock traded down $0.25 during trading hours on Friday, reaching $17.52. 1,879 shares of the company’s stock were exchanged, compared to its average volume of 4,506. Magyar Bancorp has a 1 year low of $13.52 and a 1 year high of $20.00. The stock has a market cap of $113.53 million, a PE ratio of 10.13 and a beta of 0.24. The stock’s fifty day moving average price is $17.80 and its two-hundred day moving average price is $17.33.

Magyar Bancorp (NASDAQ:MGYR) last released its earnings results on Friday, February 13th. The bank reported $0.50 EPS for the quarter. Magyar Bancorp had a net margin of 16.25% and a return on equity of 9.18%. The company had revenue of $9.66 million during the quarter.

Magyar Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, February 12th. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.08. Magyar Bancorp’s payout ratio is currently 23.12%.

Analyst Ratings Changes

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

Institutional Trading of Magyar Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Magyar Bancorp by 6.9% in the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 4,027 shares during the period. Truffle Hound Capital LLC purchased a new stake in Magyar Bancorp in the second quarter valued at approximately $1,554,000. Oppenheimer & Close LLC acquired a new position in Magyar Bancorp in the 3rd quarter worth approximately $416,000. Dimensional Fund Advisors LP raised its position in Magyar Bancorp by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock worth $2,311,000 after buying an additional 737 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Magyar Bancorp during the 4th quarter valued at approximately $544,000. 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.