Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 14,500 shares, a growth of 215.2% from the April 30th total of 4,600 shares. Based on an average daily volume of 3,600 shares, the short-interest ratio is currently 4.0 days. Currently, 0.3% of the company's stock are sold short.
Magyar Bancorp Stock Performance
Shares of Magyar Bancorp stock traded down $0.11 on Monday, hitting $15.79. The company had a trading volume of 7,215 shares, compared to its average volume of 3,539. Magyar Bancorp has a 1 year low of $10.67 and a 1 year high of $16.00. The stock has a 50 day moving average of $14.35 and a 200-day moving average of $14.32. The stock has a market capitalization of $102.15 million, a price-to-earnings ratio of 12.05 and a beta of 0.10.
Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The bank reported $0.43 EPS for the quarter. The business had revenue of $15.78 million during the quarter. Magyar Bancorp had a return on equity of 7.49% and a net margin of 15.25%.
Magyar Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a $0.06 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.52%. Magyar Bancorp's dividend payout ratio is currently 16.67%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGYR. Northern Trust Corp lifted its position in shares of Magyar Bancorp by 37.2% during the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank's stock worth $404,000 after buying an additional 7,501 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Magyar Bancorp by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank's stock valued at $1,930,000 after acquiring an additional 974 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Magyar Bancorp by 16.1% during the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank's stock worth $242,000 after acquiring an additional 2,300 shares during the period. Finally, PL Capital Advisors LLC boosted its position in Magyar Bancorp by 1,360.0% in the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank's stock worth $54,261,000 after purchasing an additional 3,461,975 shares during the last quarter. 46.32% of the stock is currently owned by hedge funds and other institutional investors.
Magyar Bancorp Company Profile
(
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Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.
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