Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Update

Magyar Bancorp, Inc. (NASDAQ:MGYR) saw a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 7,151 shares, a drop of 43.7% from the January 29th total of 12,700 shares. Based on an average daily trading volume, of 5,902 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 5,902 shares, the days-to-cover ratio is presently 1.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Magyar Bancorp currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Magyar Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Magyar Bancorp by 6.9% during the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after purchasing an additional 4,027 shares in the last quarter. Truffle Hound Capital LLC purchased a new stake in shares of Magyar Bancorp in the second quarter valued at approximately $1,554,000. Oppenheimer & Close LLC acquired a new position in shares of Magyar Bancorp during the 3rd quarter worth approximately $416,000. Dimensional Fund Advisors LP lifted its position in shares of Magyar Bancorp by 0.5% during the 3rd 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. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Magyar Bancorp in the 4th quarter valued at $544,000. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Trading Down 0.1%

Magyar Bancorp stock traded down $0.01 during mid-day trading on Monday, hitting $17.51. The company had a trading volume of 597 shares, compared to its average volume of 3,288. The company has a market capitalization of $113.46 million, a price-to-earnings ratio of 10.12 and a beta of 0.24. Magyar Bancorp has a 12-month low of $13.52 and a 12-month high of $20.00. The company’s fifty day moving average is $17.80 and its 200-day moving average is $17.33.

Magyar Bancorp (NASDAQ:MGYR) last posted its earnings results on Friday, February 13th. The bank reported $0.50 earnings per share (EPS) for the quarter. Magyar Bancorp had a net margin of 16.25% and a return on equity of 9.18%. The firm had revenue of $9.66 million during the quarter.

Magyar Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, February 12th. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.08. Magyar Bancorp’s dividend payout ratio is currently 23.12%.

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.