Magyar Bancorp, Inc. (MGYR) To Go Ex-Dividend on November 10th

Magyar Bancorp, Inc. (NASDAQ:MGYR) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.12 per share by the bank on Tuesday, November 24th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 20.0% increase from Magyar Bancorp’s previous quarterly dividend of $0.10.

Magyar Bancorp Trading Down 0.5%

Shares of MGYR opened at $21.90 on Friday. The firm’s 50-day moving average price is $19.79 and its 200-day moving average price is $18.33. The firm has a market capitalization of $141.47 million, a price-to-earnings ratio of 11.01 and a beta of 0.28. Magyar Bancorp has a 1-year low of $16.03 and a 1-year high of $23.99.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Wednesday, October 28th. The bank reported $0.52 earnings per share (EPS) for the quarter. Magyar Bancorp had a net margin of 19.74% and a return on equity of 10.11%. The company had revenue of $10.64 million for the quarter.

Institutional Investors Weigh In On Magyar Bancorp

An institutional investor recently bought a new position in Magyar Bancorp stock. Corient Private Wealth LP acquired a new position in Magyar Bancorp, Inc. (NASDAQ:MGYR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,000 shares of the bank’s stock, valued at approximately $698,000. Corient Private Wealth LP owned approximately 0.62% of Magyar Bancorp at the end of the most recent quarter. Institutional investors own 46.32% of the company’s stock.

About Magyar Bancorp

Magyar Bancorp, Inc is the holding company for Magyar Bank, a community bank headquartered in New Brunswick, New Jersey. Through its banking subsidiary, the company provides deposit, lending and other financial services to individuals, families and businesses.

Magyar Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, consumer loans, commercial real estate financing and business loans.