Short Interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) Declines By 25.6%

Magyar Bancorp, Inc. (NASDAQ:MGYR) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,900 shares, a decline of 25.6% from the March 15th total of 3,900 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 2,300 shares, the days-to-cover ratio is currently 1.3 days.

Magyar Bancorp Stock Up 0.8 %

Magyar Bancorp stock traded up $0.11 during trading on Friday, hitting $13.81. The stock had a trading volume of 508 shares, compared to its average volume of 3,930. The stock’s 50 day moving average is $14.22 and its two-hundred day moving average is $13.83. Magyar Bancorp has a 1 year low of $10.66 and a 1 year high of $14.90. The stock has a market cap of $89.46 million, a price-to-earnings ratio of 10.54 and a beta of 0.08.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share for the quarter. Magyar Bancorp had a return on equity of 7.49% and a net margin of 15.25%.

Magyar Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.06 dividend. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, February 6th. Magyar Bancorp’s dividend payout ratio (DPR) is currently 18.32%.

Institutional Trading of Magyar Bancorp

Several large investors have recently added to or reduced their stakes in MGYR. Renaissance Technologies LLC raised its position in shares of Magyar Bancorp by 16.1% in the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after acquiring an additional 2,300 shares in the last quarter. Northern Trust Corp raised its holdings in Magyar Bancorp by 37.2% in the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after purchasing an additional 7,501 shares in the last quarter. Geode Capital Management LLC lifted its position in Magyar Bancorp by 6.3% during the third quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after buying an additional 3,437 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Magyar Bancorp by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after buying an additional 974 shares in the last quarter. Finally, PL Capital Advisors LLC lifted its position in Magyar Bancorp by 1,360.0% during the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after acquiring an additional 3,461,975 shares during the period. Institutional investors own 46.32% of the company’s stock.

About Magyar Bancorp

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.