Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Up 92.8% in December

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totaling 12,334 shares, a growth of 92.8% from the December 15th total of 6,398 shares. Based on an average daily volume of 5,581 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.2% of the company’s shares are sold short. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 5,581 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magyar Bancorp in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Investors Weigh In On Magyar Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of MGYR. Oppenheimer & Close LLC bought a new stake in shares of Magyar Bancorp in the 3rd quarter worth approximately $416,000. Geode Capital Management LLC increased its holdings in shares of Magyar Bancorp by 6.9% during 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 purchased a new position in shares of Magyar Bancorp in the 2nd quarter worth about $1,554,000. Finally, Dimensional Fund Advisors LP boosted its stake in Magyar Bancorp by 0.5% in the 3rd 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. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Trading Up 0.1%

Shares of MGYR traded up $0.03 on Friday, reaching $17.71. The company’s stock had a trading volume of 1,114 shares, compared to its average volume of 3,952. The firm has a fifty day moving average of $17.21 and a 200-day moving average of $17.10. The stock has a market capitalization of $115.72 million, a PE ratio of 11.35 and a beta of 0.23. Magyar Bancorp has a twelve month low of $13.52 and a twelve month high of $19.04.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings data on Friday, December 19th. The bank reported $0.39 EPS for the quarter. Magyar Bancorp had a net margin of 15.00% and a return on equity of 8.47%. The business had revenue of $9.25 million during the quarter.

Magyar Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Thursday, November 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, November 13th. Magyar Bancorp’s dividend payout ratio (DPR) is presently 20.51%.

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.