Magyar Bancorp (NASDAQ:MGYR) Releases Quarterly Earnings Results

Magyar Bancorp (NASDAQ:MGYR) released its quarterly earnings results on Thursday. The bank reported $0.33 EPS for the quarter, Zacks reports. Magyar Bancorp had a return on equity of 7.18% and a net margin of 14.91%.

Magyar Bancorp Price Performance

Shares of Magyar Bancorp stock traded up $0.13 on Thursday, hitting $14.31. The company had a trading volume of 459 shares, compared to its average volume of 1,663. Magyar Bancorp has a twelve month low of $10.30 and a twelve month high of $14.74. The stock has a 50-day moving average of $14.14 and a 200-day moving average of $12.92. The firm has a market capitalization of $94.04 million, a P/E ratio of 11.54 and a beta of 0.30.

Magyar Bancorp Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, December 6th. Magyar Bancorp’s payout ratio is currently 16.13%.

Magyar Bancorp Company Profile

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.