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

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 5,834 shares, a decrease of 18.4% from the February 12th total of 7,151 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 2,426 shares, the short-interest ratio is currently 2.4 days. Based on an average daily volume of 2,426 shares, the short-interest ratio is currently 2.4 days. Approximately 0.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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.com, the stock currently has an average rating of “Hold”.

Magyar Bancorp Stock Down 0.8%

Shares of NASDAQ:MGYR traded down $0.14 during trading on Tuesday, reaching $17.50. 2,743 shares of the company traded hands, compared to its average volume of 7,366. The firm has a market capitalization of $113.37 million, a PE ratio of 10.11 and a beta of 0.24. Magyar Bancorp has a 52 week low of $13.52 and a 52 week high of $20.00. The company’s 50 day moving average is $17.76 and its two-hundred day moving average is $17.34.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings results on Friday, February 13th. The bank reported $0.50 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 announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders 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 was Thursday, February 12th. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.08. Magyar Bancorp’s dividend payout ratio is presently 23.12%.

Institutional Trading of Magyar Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Magyar Bancorp by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after acquiring an additional 737 shares during the last quarter. Maltese Capital Management LLC raised its position in Magyar Bancorp by 1.4% during the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock valued at $4,191,000 after purchasing an additional 3,453 shares in the last quarter. 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. Oppenheimer & Close LLC acquired a new stake in shares of Magyar Bancorp in the 3rd quarter valued at $416,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Magyar Bancorp in the 4th quarter valued at $544,000. Institutional investors own 46.32% of the company’s stock.

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.