Magyar Bancorp (NASDAQ:MGYR) Releases Earnings Results

Magyar Bancorp (NASDAQ:MGYR) issued its earnings results on Thursday. The bank reported $0.48 EPS for the quarter, FiscalAI reports. The business had revenue of $10.09 million during the quarter. Magyar Bancorp had a return on equity of 9.18% and a net margin of 16.25%.

Magyar Bancorp Stock Performance

NASDAQ:MGYR traded down $0.21 during mid-day trading on Thursday, hitting $17.70. The company had a trading volume of 4,596 shares, compared to its average volume of 5,547. Magyar Bancorp has a fifty-two week low of $13.77 and a fifty-two week high of $20.00. The business’s fifty day moving average is $17.61 and its two-hundred day moving average is $17.39. The firm has a market cap of $114.66 million, a P/E ratio of 10.23 and a beta of 0.23.

Magyar Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were issued a $0.10 dividend. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, February 12th. Magyar Bancorp’s dividend payout ratio (DPR) is 23.12%.

Hedge Funds Weigh In On Magyar Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position 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 worth $2,311,000 after purchasing an additional 737 shares during the period. Maltese Capital Management LLC raised its position in shares of Magyar Bancorp by 1.4% during the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after purchasing an additional 3,453 shares during the period. Geode Capital Management LLC raised its position 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 worth $1,051,000 after purchasing an additional 4,027 shares during the period. Oppenheimer & Close LLC acquired a new stake in shares of Magyar Bancorp during the third quarter worth about $416,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Magyar Bancorp during the fourth quarter worth about $544,000. Institutional investors and hedge funds own 46.32% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research report on Tuesday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Magyar Bancorp has a consensus 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.