Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Up 59.6% in March

Magyar Bancorp, Inc. (NASDAQ:MGYRGet Rating) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 8,300 shares, a growth of 59.6% from the March 15th total of 5,200 shares. Based on an average trading volume of 3,900 shares, the short-interest ratio is presently 2.1 days. Approximately 0.1% of the shares of the company are short sold.

A number of institutional investors have recently modified their holdings of MGYR. State Street Corp bought a new position in Magyar Bancorp during the fourth quarter valued at about $477,000. Renaissance Technologies LLC increased its stake in Magyar Bancorp by 4.6% during the fourth quarter. Renaissance Technologies LLC now owns 20,600 shares of the bank’s stock valued at $253,000 after acquiring an additional 900 shares during the period. Maltese Capital Management LLC bought a new position in Magyar Bancorp in the third quarter worth $1,059,000. Morgan Stanley lifted its position in Magyar Bancorp by 342.6% in the third quarter. Morgan Stanley now owns 2,213 shares of the bank’s stock worth $25,000 after purchasing an additional 1,713 shares during the period. Finally, First Manhattan Co. lifted its position in Magyar Bancorp by 22.1% in the third quarter. First Manhattan Co. now owns 28,015 shares of the bank’s stock worth $320,000 after purchasing an additional 5,076 shares during the period. 32.15% of the stock is owned by hedge funds and other institutional investors.

MGYR stock traded down $0.02 during mid-day trading on Friday, reaching $11.96. 6,672 shares of the stock traded hands, compared to its average volume of 7,411. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. Magyar Bancorp has a 52 week low of $10.15 and a 52 week high of $14.77. The business has a 50-day moving average of $12.10 and a two-hundred day moving average of $11.98. The firm has a market capitalization of $84.92 million, a PE ratio of 11.61 and a beta of 0.24.

Magyar Bancorp (NASDAQ:MGYRGet Rating) last released its quarterly earnings results on Tuesday, January 25th. The bank reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $7.09 million during the quarter. Magyar Bancorp had a net margin of 20.65% and a return on equity of 8.18%.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 24th. Shareholders of record on Thursday, February 10th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, February 9th. Magyar Bancorp’s dividend payout ratio is currently 11.65%.

Magyar Bancorp Company Profile (Get Rating)

Magyar Bancorp, Inc is a bank holding company. The firm engages in the provision of financial services. It offers commercial and retail financial services, including the taking of time, savings and demand deposits, the making of commercial, consumer and home equity loans and the provision of other financial services.

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