Magyar Bancorp, Inc. (NASDAQ:MGYR) Sees Large Decline in Short Interest

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 3,900 shares, a drop of 38.1% from the February 28th total of 6,300 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 2,100 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in Magyar Bancorp by 16.1% during the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after purchasing an additional 2,300 shares during the period. Northern Trust Corp boosted its holdings in shares of Magyar Bancorp by 37.2% during the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after buying an additional 7,501 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Magyar Bancorp by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock worth $713,000 after buying an additional 3,437 shares during the period. Dimensional Fund Advisors LP grew its stake in Magyar Bancorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after buying an additional 974 shares during the last quarter. Finally, PL Capital Advisors LLC raised its holdings in Magyar Bancorp by 1,360.0% in the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock worth $54,261,000 after acquiring an additional 3,461,975 shares during the period. 46.32% of the stock is owned by institutional investors.

Magyar Bancorp Trading Down 0.8 %

NASDAQ MGYR traded down $0.11 during trading on Friday, reaching $13.98. The company’s stock had a trading volume of 4,731 shares, compared to its average volume of 4,106. The business has a 50-day moving average price of $14.44 and a 200-day moving average price of $13.68. Magyar Bancorp has a 1-year low of $10.66 and a 1-year high of $14.90. The stock has a market capitalization of $90.59 million, a PE ratio of 10.67 and a beta of 0.29.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter. Magyar Bancorp had a net margin of 15.25% and a return on equity of 7.49%.

Magyar Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.06 per share. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.72%. Magyar Bancorp’s dividend payout ratio is currently 18.32%.

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.