Magyar Bancorp, Inc. (NASDAQ:MGYR – Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.80 and traded as high as $19.60. Magyar Bancorp shares last traded at $19.60, with a volume of 957 shares traded.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magyar Bancorp in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Check Out Our Latest Report on MGYR
Magyar Bancorp Trading Up 0.7%
Magyar Bancorp (NASDAQ:MGYR – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.49 EPS for the quarter. The business had revenue of $10.25 million for the quarter. Magyar Bancorp had a return on equity of 9.59% and a net margin of 18.89%.
Magyar Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Thursday, August 6th. Magyar Bancorp’s dividend payout ratio is 21.39%.
Hedge Funds Weigh In On Magyar Bancorp
Institutional investors have recently modified their holdings of the business. Maltese Capital Management LLC increased its stake in Magyar Bancorp by 1.4% during the 4th quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after purchasing an additional 3,453 shares in the last quarter. M3F Inc. lifted its stake in Magyar Bancorp by 1.3% in the first quarter. M3F Inc. now owns 283,894 shares of the bank’s stock valued at $4,914,000 after buying an additional 3,544 shares in the last quarter. Geode Capital Management LLC lifted its stake in Magyar Bancorp by 6.9% in the second 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Magyar Bancorp by 0.5% in the third 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. Finally, Truffle Hound Capital LLC boosted its holdings in shares of Magyar Bancorp by 23.1% in the fourth quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock valued at $3,456,000 after buying an additional 37,514 shares during the period. Institutional investors own 46.32% of the company’s stock.
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.
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