Short Interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) Decreases By 43.7%

Magyar Bancorp, Inc. (NASDAQ:MGYR) saw a large decrease in short interest in February. As of February 13th, there was short interest totaling 7,151 shares, a decrease of 43.7% from the January 29th total of 12,700 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 5,902 shares, the short-interest ratio is currently 1.2 days. Based on an average daily volume of 5,902 shares, the short-interest ratio is currently 1.2 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Trading of Magyar Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 4,027 shares during the last quarter. Truffle Hound Capital LLC acquired a new stake in Magyar Bancorp during the second quarter worth about $1,554,000. Oppenheimer & Close LLC purchased a new position in shares of Magyar Bancorp in the 3rd quarter worth about $416,000. Dimensional Fund Advisors LP lifted its stake in shares of Magyar Bancorp by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after purchasing an additional 737 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Magyar Bancorp during the 4th quarter worth about $544,000. 46.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Magyar Bancorp Stock Performance

NASDAQ MGYR traded down $0.25 during trading hours on Friday, hitting $17.52. 1,879 shares of the company’s stock were exchanged, compared to its average volume of 4,520. The business’s 50 day moving average is $17.80 and its 200-day moving average is $17.32. Magyar Bancorp has a 12-month low of $13.52 and a 12-month high of $20.00. The firm has a market capitalization of $113.53 million, a P/E ratio of 10.13 and a beta of 0.26.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings data on Friday, February 13th. The bank reported $0.50 EPS for the quarter. Magyar Bancorp had a net margin of 16.25% and a return on equity of 9.18%. The company had revenue of $9.66 million during the quarter.

Magyar Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were paid a dividend of $0.10 per share. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, February 12th. Magyar Bancorp’s payout ratio is 23.12%.

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.