Truffle Hound Capital LLC Buys 69,245 Shares of Magyar Bancorp, Inc. $MGYR

Truffle Hound Capital LLC boosted its stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) by 74.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,486 shares of the bank’s stock after acquiring an additional 69,245 shares during the quarter. Magyar Bancorp accounts for about 0.8% of Truffle Hound Capital LLC’s investment portfolio, making the stock its 26th largest holding. Truffle Hound Capital LLC owned approximately 2.52% of Magyar Bancorp worth $2,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Geode Capital Management LLC boosted its stake 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 valued at $1,051,000 after purchasing an additional 4,027 shares during the period. 46.32% of the stock is owned by institutional investors.

Magyar Bancorp Price Performance

Shares of NASDAQ:MGYR opened at $18.33 on Friday. The company has a market capitalization of $119.77 million, a PE ratio of 10.59 and a beta of 0.26. The business has a fifty day moving average price of $17.62 and a 200-day moving average price of $17.25. Magyar Bancorp, Inc. has a 1-year low of $13.52 and a 1-year high of $20.00.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Friday, February 13th. The bank reported $0.50 earnings per share (EPS) for the quarter. Magyar Bancorp had a return on equity of 9.28% and a net margin of 16.25%.The business had revenue of $9.66 million for the quarter.

Magyar Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, February 12th. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.08. Magyar Bancorp’s payout ratio is 23.12%.

Analysts Set New Price Targets

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

About Magyar Bancorp

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.