Magyar Bancorp (NASDAQ:MGYR) Announces Quarterly Earnings Results

by · The Markets Daily

Magyar Bancorp (NASDAQ:MGYR – Get Free Report) announced its quarterly earnings results on Thursday. The bank reported $0.50 EPS for the quarter, Zacks reports. The firm had revenue of $9.65 million during the quarter. Magyar Bancorp had a net margin of 16.25% and a return on equity of 9.28%.

Magyar Bancorp Stock Up 0.2%

Shares of NASDAQ MGYR opened at $17.62 on Friday. The firm’s fifty day moving average is $17.37 and its 200 day moving average is $17.16. Magyar Bancorp has a 52 week low of $13.52 and a 52 week high of $19.04. The company has a market cap of $115.23 million, a price-to-earnings ratio of 10.18 and a beta of 0.23.

Magyar Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be issued a $0.10 dividend. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, February 12th. Magyar Bancorp’s dividend payout ratio (DPR) is 20.51%.

Wall Street Analyst Weigh In

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

Check Out Our Latest Analysis on Magyar Bancorp

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Magyar Bancorp stock. Dimensional Fund Advisors LP grew its stake in Magyar Bancorp, Inc. (NASDAQ:MGYR – Free Report) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,352 shares of the bank’s stock after purchasing an additional 737 shares during the period. Dimensional Fund Advisors LP owned approximately 2.10% of Magyar Bancorp worth $2,311,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Company Profile

(Get Free Report)

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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