Magyar Bancorp (NASDAQ:MGYR) Given Hold (C) Rating at Weiss Ratings

Key Points

• Magyar Bancorp (NASDAQ:MGYR) received a "hold (c)" rating from Weiss Ratings, indicating a neutral outlook on the stock.
• As of Wednesday, MGYR's stock price was at $17.14, with a 12-month low of $12.10 and a high of $19.04.
• Institutional investor Truffle Hound Capital LLC purchased over 93,000 shares, increasing its stake to approximately 1.44% of Magyar Bancorp.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Magyar Bancorp Stock Down 0.7%

Shares of MGYR stock opened at $17.14 on Wednesday. Magyar Bancorp has a 12 month low of $12.10 and a 12 month high of $19.04. The firm has a market cap of $110.54 million, a PE ratio of 10.91 and a beta of 0.24. The stock has a 50 day moving average of $17.20 and a 200-day moving average of $15.96.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.40 EPS for the quarter. Magyar Bancorp had a return on equity of 8.64% and a net margin of 15.12%.The company had revenue of $8.81 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Magyar Bancorp stock. Truffle Hound Capital LLC bought a new stake in Magyar Bancorp, Inc. (NASDAQ:MGYR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93,241 shares of the bank's stock, valued at approximately $1,554,000. Truffle Hound Capital LLC owned approximately 1.44% of Magyar Bancorp at the end of the most recent quarter. 46.32% of the stock is currently owned by institutional investors.

Magyar Bancorp Company Profile

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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