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

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 5,834 shares, a drop of 18.4% from the February 12th total of 7,151 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,426 shares, the days-to-cover ratio is presently 2.4 days. Based on an average daily trading volume, of 2,426 shares, the days-to-cover ratio is presently 2.4 days. Approximately 0.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Magyar Bancorp Stock Performance

Shares of NASDAQ MGYR opened at $17.24 on Friday. Magyar Bancorp has a 52-week low of $13.52 and a 52-week high of $20.00. The firm has a 50 day moving average price of $17.77 and a two-hundred day moving average price of $17.33. The stock has a market cap of $111.72 million, a P/E ratio of 9.97 and a beta of 0.24.

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

Magyar Bancorp Increases Dividend

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

Institutional Trading of Magyar Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer & Close LLC acquired a new stake in Magyar Bancorp during the 3rd quarter valued at approximately $416,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Magyar Bancorp in the 4th quarter worth approximately $544,000. Geode Capital Management LLC lifted its position in shares of Magyar Bancorp by 6.9% in the 2nd 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 during the period. Truffle Hound Capital LLC bought a new stake in shares of Magyar Bancorp in the 2nd quarter valued at $1,554,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 737 shares during the last quarter. 46.32% of the stock is currently owned by institutional investors.

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.