Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Up 33.5% in March

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 7,788 shares, an increase of 33.5% from the February 26th total of 5,834 shares. Based on an average trading volume of 11,474 shares, the short-interest ratio is currently 0.7 days. Currently, 0.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Magyar Bancorp

Several large investors have recently bought and sold shares of MGYR. Oppenheimer & Close LLC acquired a new stake in Magyar Bancorp in the third quarter valued at $416,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Magyar Bancorp during the 4th quarter worth about $544,000. Geode Capital Management LLC lifted 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 last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 737 shares in the last quarter. Finally, Truffle Hound Capital LLC lifted its holdings in shares of Magyar Bancorp by 74.3% in the 3rd quarter. Truffle Hound Capital LLC now owns 162,486 shares of the bank’s stock valued at $2,806,000 after purchasing an additional 69,245 shares during the last quarter. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Price Performance

MGYR opened at $17.79 on Tuesday. The business has a fifty day moving average price of $17.66 and a 200 day moving average price of $17.33. Magyar Bancorp has a 12 month low of $13.52 and a 12 month high of $20.00. The stock has a market capitalization of $115.26 million, a price-to-earnings ratio of 10.28 and a beta of 0.24.

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

Magyar Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost 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 reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.