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

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 6,300 shares, an increase of 26.0% from the February 13th total of 5,000 shares. Based on an average trading volume of 2,200 shares, the days-to-cover ratio is currently 2.9 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Magyar Bancorp

Several large investors have recently made changes to their positions in MGYR. PL Capital Advisors LLC increased its stake in shares of Magyar Bancorp by 1,360.0% in the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after purchasing an additional 3,461,975 shares during the period. Northern Trust Corp increased its stake in shares of Magyar Bancorp by 37.2% in the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after purchasing an additional 7,501 shares during the period. Geode Capital Management LLC increased its stake in shares of Magyar Bancorp by 6.3% in the third quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after purchasing an additional 3,437 shares during the period. Renaissance Technologies LLC increased its stake in shares of Magyar Bancorp by 16.1% in the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after purchasing an additional 2,300 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Magyar Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 46.32% of the company’s stock.

Magyar Bancorp Stock Down 0.1 %

MGYR opened at $14.29 on Wednesday. The firm has a market cap of $92.61 million, a price-to-earnings ratio of 10.91 and a beta of 0.29. Magyar Bancorp has a fifty-two week low of $10.30 and a fifty-two week high of $14.90. The company’s 50-day moving average price is $14.45 and its 200 day moving average price is $13.57.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.33 earnings per share for the quarter. Magyar Bancorp had a net margin of 15.25% and a return on equity of 7.49%.

Magyar Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.06 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.68%. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s dividend payout ratio (DPR) is presently 18.32%.

About Magyar Bancorp

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.