Magyar Bancorp, Inc. (NASDAQ:MGYR) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 6,300 shares, a drop of 19.2% from the August 15th total of 7,800 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 25,300 shares, the days-to-cover ratio is presently 0.2 days.
Separately, TheStreet upgraded Magyar Bancorp from a “c+” rating to a “b” rating in a research note on Monday, June 7th.
An institutional investor recently bought a new position in Magyar Bancorp stock. RMR Wealth Builders acquired a new position in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,000 shares of the bank’s stock, valued at approximately $28,000. 9.41% of the stock is currently owned by institutional investors and hedge funds.
Magyar Bancorp (NASDAQ:MGYR) last released its earnings results on Monday, July 26th. The bank reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $7.18 million for the quarter. Magyar Bancorp had a return on equity of 9.05% and a net margin of 16.97%.
Magyar Bancorp Company Profile
Magyar Bancorp, Inc is a bank holding company. The firm engages in the provision of financial services. It offers commercial and retail financial services, including the taking of time, savings and demand deposits; the making of commercial, consumer and home equity loans; and the provision of other financial services.
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