Magyar Bancorp (NASDAQ:MGYR) Issues Quarterly Earnings Results

Magyar Bancorp (NASDAQ:MGYR) issued its quarterly earnings data on Friday. The bank reported $0.50 EPS for the quarter, FiscalAI reports. The firm had revenue of $9.66 million for the quarter. Magyar Bancorp had a net margin of 16.25% and a return on equity of 9.28%.

Magyar Bancorp Stock Performance

Shares of Magyar Bancorp stock opened at $18.33 on Friday. Magyar Bancorp has a 1 year low of $13.52 and a 1 year high of $20.00. The firm’s 50-day simple moving average is $17.62 and its 200-day simple moving average is $17.25. The firm has a market cap of $119.77 million, a PE ratio of 10.59 and a beta of 0.26.

Magyar Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be paid a $0.10 dividend. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, February 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. Magyar Bancorp’s dividend payout ratio (DPR) is currently 23.12%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Truffle Hound Capital LLC bought a new position in Magyar Bancorp during the second quarter worth $1,554,000. Oppenheimer & Close LLC acquired a new stake in shares of Magyar Bancorp during the third quarter worth $416,000. Charles Schwab Investment Management Inc. bought a new position in shares of Magyar Bancorp in the 4th quarter worth about $544,000. Dimensional Fund Advisors LP boosted its holdings in shares of Magyar Bancorp by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after buying an additional 737 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Magyar Bancorp by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after buying an additional 4,027 shares during the last quarter. Institutional investors and hedge funds own 46.32% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.