Magyar Bancorp, Inc. (NASDAQ:MGYR) Declares Quarterly Dividend of $0.12

Magyar Bancorp, Inc. (NASDAQ:MGYR) declared a quarterly dividend on Wednesday, October 28th. Investors of record on Tuesday, November 10th will be given a dividend of $0.12 per share by the bank on Tuesday, November 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, November 10th. This is a 20.0% increase from Magyar Bancorp’s previous quarterly dividend of $0.10.

Magyar Bancorp Stock Down 0.4%

NASDAQ MGYR opened at $20.15 on Thursday. Magyar Bancorp has a 52-week low of $16.03 and a 52-week high of $22.15. The business’s 50-day moving average price is $19.42 and its 200 day moving average price is $18.18. The firm has a market cap of $130.07 million, a P/E ratio of 10.78 and a beta of 0.29.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings data on Wednesday, October 28th. The bank reported $0.52 EPS for the quarter. Magyar Bancorp had a return on equity of 9.59% and a net margin of 18.89%. The firm had revenue of $10.64 million during the quarter.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc is the holding company for Magyar Bank, a community bank headquartered in New Brunswick, New Jersey. Through its banking subsidiary, the company provides deposit, lending and other financial services to individuals, families and businesses.

Magyar Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, consumer loans, commercial real estate financing and business loans.