Magyar Bancorp (NASDAQ:MGYR) Posts Earnings Results

Magyar Bancorp (NASDAQ:MGYR) issued its earnings results on Thursday. The bank reported $0.49 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $10.24 million during the quarter. Magyar Bancorp had a net margin of 18.32% and a return on equity of 9.28%.

Magyar Bancorp Stock Performance

MGYR stock opened at $17.48 on Friday. Magyar Bancorp has a one year low of $16.03 and a one year high of $20.00. The firm’s fifty day moving average is $17.47 and its 200 day moving average is $17.58. The firm has a market cap of $112.92 million, a PE ratio of 9.82 and a beta of 0.22.

Magyar Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.3%. Magyar Bancorp’s dividend payout ratio (DPR) is presently 22.47%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magyar Bancorp in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Hedge Funds Weigh In On Magyar Bancorp

Several institutional investors and hedge funds have recently modified their holdings of MGYR. Charles Schwab Investment Management Inc. purchased a new position in Magyar Bancorp during the fourth quarter worth approximately $544,000. Geode Capital Management LLC grew its holdings in Magyar Bancorp by 6.9% in 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. Dimensional Fund Advisors LP increased its position in shares of Magyar Bancorp by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after buying an additional 737 shares in the last quarter. Truffle Hound Capital LLC raised its stake in shares of Magyar Bancorp by 23.1% during the 4th quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock worth $3,456,000 after buying an additional 37,514 shares during the period. Finally, Maltese Capital Management LLC raised its stake in shares of Magyar Bancorp by 1.4% during the 4th quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after buying an additional 3,453 shares during the period. Hedge funds and other institutional investors own 46.32% of the company’s stock.

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.