Magyar Bancorp (NASDAQ:MGYR) Posts Quarterly Earnings Results

Magyar Bancorp (NASDAQ:MGYR) posted its earnings results on Friday. The bank reported $0.50 earnings per share (EPS) for the quarter, FiscalAI reports. Magyar Bancorp had a net margin of 16.25% and a return on equity of 9.28%. The firm had revenue of $9.66 million during the quarter.

Magyar Bancorp Stock Performance

Magyar Bancorp stock opened at $18.33 on Friday. The stock has a market capitalization of $119.85 million, a P/E ratio of 10.59 and a beta of 0.26. The company’s fifty day moving average price is $17.62 and its 200 day moving average price is $17.26. Magyar Bancorp has a 1 year low of $13.52 and a 1 year high of $20.00.

Magyar Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $0.40 dividend on an annualized basis and a yield of 2.2%. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.08. Magyar Bancorp’s dividend payout ratio is 23.12%.

Institutional Trading of Magyar Bancorp

Institutional investors have recently modified their holdings of the stock. Oppenheimer & Close LLC purchased a new stake in shares of Magyar Bancorp during the third quarter worth about $416,000. Charles Schwab Investment Management Inc. acquired a new stake in Magyar Bancorp in the 4th quarter worth about $544,000. Geode Capital Management LLC increased its stake in Magyar Bancorp by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after buying an additional 4,027 shares in the last quarter. Truffle Hound Capital LLC acquired a new position in shares of Magyar Bancorp during the second quarter valued at approximately $1,554,000. Finally, Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 737 shares in the last quarter. Institutional investors and hedge funds own 46.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magyar Bancorp in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

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.