Magyar Bancorp (NASDAQ:MGYR) Posts Quarterly Earnings Results

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

Magyar Bancorp Price Performance

NASDAQ:MGYR traded down $0.22 during trading hours on Thursday, hitting $17.48. The company’s stock had a trading volume of 864 shares, compared to its average volume of 4,332. The company has a market capitalization of $112.97 million, a P/E ratio of 9.82 and a beta of 0.22. The stock has a fifty day simple moving average of $17.47 and a 200-day simple moving average of $17.58. Magyar Bancorp has a twelve month low of $16.03 and a twelve month high of $20.00.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Magyar Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. acquired a new position in shares of Magyar Bancorp in the fourth quarter valued at approximately $544,000. Geode Capital Management LLC increased its position in Magyar Bancorp by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after acquiring an additional 4,027 shares during the period. Dimensional Fund Advisors LP increased its position in Magyar Bancorp by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after acquiring an additional 737 shares during the period. Truffle Hound Capital LLC raised its stake in shares of Magyar Bancorp by 23.1% during the fourth quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock valued at $3,456,000 after acquiring an additional 37,514 shares during the last quarter. Finally, Maltese Capital Management LLC lifted its holdings in shares of Magyar Bancorp by 1.4% during the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after purchasing an additional 3,453 shares during the period. Institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Company Profile

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.