Magyar Bancorp (NASDAQ:MGYR) Posts Quarterly Earnings Results

Magyar Bancorp (NASDAQ:MGYR) released its earnings results on Thursday. The bank reported $0.50 EPS for the quarter, Zacks reports. Magyar Bancorp had a return on equity of 8.47% and a net margin of 15.00%.

Magyar Bancorp Trading Down 1.7%

Shares of Magyar Bancorp stock traded down $0.30 on Thursday, reaching $17.58. The stock had a trading volume of 1,994 shares, compared to its average volume of 1,382. The business’s 50 day moving average is $17.34 and its two-hundred day moving average is $17.15. Magyar Bancorp has a 1 year low of $13.52 and a 1 year high of $19.04. The company has a market cap of $114.92 million, a P/E ratio of 11.27 and a beta of 0.23.

Hedge Funds Weigh In On Magyar Bancorp

A hedge fund recently raised its stake in Magyar Bancorp stock. Geode Capital Management LLC boosted its stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,433 shares of the bank’s stock after purchasing an additional 4,027 shares during the quarter. Geode Capital Management LLC owned about 0.96% of Magyar Bancorp worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 46.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently 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.