Magyar Bancorp (NASDAQ:MGYR) Releases Earnings Results

Magyar Bancorp (NASDAQ:MGYR) released its quarterly earnings results on Thursday. The bank reported $0.49 EPS for the quarter, FiscalAI reports. The business had revenue of $10.24 million for the quarter. Magyar Bancorp had a net margin of 18.89% and a return on equity of 9.69%.

Magyar Bancorp Stock Up 4.6%

MGYR stock opened at $18.29 on Friday. Magyar Bancorp has a twelve month low of $16.03 and a twelve month high of $20.00. The company has a market cap of $118.15 million, a P/E ratio of 9.78 and a beta of 0.22. The business’s fifty day moving average is $17.48 and its 200-day moving average is $17.59.

Magyar Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. Magyar Bancorp’s payout ratio is presently 22.47%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magyar Bancorp in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Magyar Bancorp

Several institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. bought a new position in Magyar Bancorp during the 4th quarter worth approximately $544,000. Geode Capital Management LLC increased its position in shares of Magyar Bancorp by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after buying an additional 4,027 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Magyar Bancorp by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock worth $2,311,000 after acquiring an additional 737 shares in the last quarter. Truffle Hound Capital LLC increased its holdings in shares of Magyar Bancorp by 23.1% in the fourth quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock worth $3,456,000 after acquiring an additional 37,514 shares in the last quarter. Finally, Maltese Capital Management LLC raised its position in shares of Magyar Bancorp by 1.4% during the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after purchasing an additional 3,453 shares during the period. 46.32% of the stock is currently owned by institutional investors and hedge funds.

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.