Magyar Bancorp (NASDAQ:MGYR) Releases Quarterly Earnings Results

Magyar Bancorp (NASDAQ:MGYR) announced its earnings results on Friday. The bank reported $0.39 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $9.25 million for the quarter. Magyar Bancorp had a net margin of 15.00% and a return on equity of 8.56%.

Magyar Bancorp Stock Up 0.6%

Shares of NASDAQ MGYR traded up $0.11 during midday trading on Friday, hitting $17.27. The company had a trading volume of 101 shares, compared to its average volume of 4,336. The firm has a market capitalization of $111.39 million, a price-to-earnings ratio of 11.07 and a beta of 0.25. Magyar Bancorp has a twelve month low of $13.52 and a twelve month high of $19.04. The business has a 50-day simple moving average of $16.93 and a two-hundred day simple moving average of $16.89.

Magyar Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Thursday, November 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, November 13th. Magyar Bancorp’s dividend payout ratio (DPR) is currently 20.51%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings 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 buying an additional 737 shares in the last quarter. Geode Capital Management LLC grew its stake in Magyar Bancorp by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after acquiring an additional 4,027 shares during the period. Oppenheimer & Close LLC acquired a new position in Magyar Bancorp in the 3rd quarter valued at $416,000. Finally, Truffle Hound Capital LLC raised its holdings in Magyar Bancorp by 74.3% in the 3rd quarter. Truffle Hound Capital LLC now owns 162,486 shares of the bank’s stock valued at $2,806,000 after acquiring an additional 69,245 shares during the last quarter. 46.32% of the stock is owned by hedge funds and other institutional investors.

About Magyar Bancorp

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.