Magyar Bancorp, Inc. (NASDAQ:MGYR – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.54 and traded as high as $17.90. Magyar Bancorp shares last traded at $17.90, with a volume of 1,790 shares traded.
Analyst Ratings Changes
Separately, Weiss Ratings restated a “hold (c)” rating on shares of Magyar Bancorp in a report on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Magyar Bancorp currently has a consensus rating of “Hold”.
View Our Latest Report on MGYR
Magyar Bancorp Stock Down 0.9%
Magyar Bancorp (NASDAQ:MGYR – Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $0.48 earnings per share for the quarter. The business had revenue of $10.09 million for the quarter. Magyar Bancorp had a net margin of 18.32% and a return on equity of 9.28%.
Magyar Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were issued a $0.10 dividend. The ex-dividend date was Thursday, May 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. Magyar Bancorp’s dividend payout ratio is currently 22.47%.
Institutional Trading of Magyar Bancorp
Several institutional investors have recently made changes to their positions in MGYR. Charles Schwab Investment Management Inc. acquired a new position in Magyar Bancorp in the 4th quarter valued at approximately $544,000. Geode Capital Management LLC boosted its stake in shares of Magyar Bancorp by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after buying an additional 4,027 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 during the period. Truffle Hound Capital LLC grew its holdings in shares of Magyar Bancorp by 23.1% during the 4th 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 in the last quarter. Finally, Maltese Capital Management LLC grew its holdings in shares of Magyar Bancorp by 1.4% during the 4th quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock valued at $4,191,000 after acquiring an additional 3,453 shares in the last quarter. 46.32% of the stock is currently owned by institutional investors and hedge funds.
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.
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