Short Interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) Drops By 25.6%

Magyar Bancorp, Inc. (NASDAQ:MGYR) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,900 shares, a decline of 25.6% from the March 15th total of 3,900 shares. Based on an average daily volume of 2,300 shares, the short-interest ratio is presently 1.3 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MGYR. Northern Trust Corp increased its holdings in 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 acquiring an additional 7,501 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Magyar Bancorp by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after acquiring an additional 974 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of 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 in the last quarter. PL Capital Advisors LLC increased its position in shares of Magyar Bancorp by 1,360.0% in the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock worth $54,261,000 after purchasing an additional 3,461,975 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Magyar Bancorp by 6.3% in the third quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after purchasing an additional 3,437 shares in the last quarter. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Stock Up 0.8 %

MGYR opened at $13.81 on Friday. The stock has a market cap of $89.46 million, a price-to-earnings ratio of 10.54 and a beta of 0.08. The company’s 50-day moving average price is $14.22 and its two-hundred day moving average price is $13.82. Magyar Bancorp has a twelve month low of $10.66 and a twelve month high of $14.90.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings results 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. Investors of record on Thursday, February 6th were issued a dividend of $0.06 per share. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.74%. Magyar Bancorp’s dividend payout ratio is 18.32%.

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.