Short Interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) Decreases By 43.7%

Magyar Bancorp, Inc. (NASDAQ:MGYR) saw a significant decline in short interest in the month of 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. Based on an average daily volume of 5,902 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.1% of the company’s shares are short sold. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 5,902 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Trading of Magyar Bancorp

Several large investors have recently modified their holdings of the business. Oppenheimer & Close LLC purchased a new stake in Magyar Bancorp in the 3rd quarter valued at approximately $416,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Magyar Bancorp in the fourth quarter worth $544,000. Geode Capital Management LLC lifted its position 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 acquiring an additional 4,027 shares in the last quarter. Truffle Hound Capital LLC acquired a new stake in shares of Magyar Bancorp during the second quarter valued at $1,554,000. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $2,311,000 after acquiring an additional 737 shares during the last quarter. 46.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Magyar Bancorp Stock Down 1.4%

NASDAQ:MGYR traded down $0.25 during trading hours on Friday, reaching $17.52. 1,879 shares of the stock were exchanged, compared to its average volume of 4,520. The business has a 50-day moving average of $17.80 and a two-hundred day moving average of $17.32. The company has a market capitalization of $113.53 million, a price-to-earnings ratio of 10.13 and a beta of 0.26. Magyar Bancorp has a twelve month low of $13.52 and a twelve month high of $20.00.

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

Magyar Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were issued a dividend of $0.10 per share. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, February 12th. This represents a $0.40 annualized dividend and a yield of 2.3%. Magyar Bancorp’s payout ratio is 23.12%.

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.