Magyar Bancorp (NASDAQ:MGYR) Releases Earnings Results

Key Points

• Magyar Bancorp reported a quarterly earnings per share of $0.40, alongside a return on equity of 8.72% and a net margin of 15.12%, with revenue totaling $8.81 million for the quarter.
• The bank has announced an increase in its quarterly dividend to $0.08, up from $0.06, reflecting a positive change in its dividend payout ratio of 16.67%.
• Magyar Bancorp's stock price experienced an increase, trading at $16.89, with a market cap of $109.27 million and a price-to-earnings ratio of 10.76.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) released its quarterly earnings results on Thursday. The bank reported $0.40 earnings per share for the quarter, Zacks reports. Magyar Bancorp had a return on equity of 8.72% and a net margin of 15.12%. The business had revenue of $8.81 million during the quarter.

Magyar Bancorp Stock Performance

Shares of NASDAQ:MGYR traded up $0.33 during midday trading on Friday, reaching $16.89. The company had a trading volume of 945 shares, compared to its average volume of 9,035. Magyar Bancorp has a 1-year low of $11.96 and a 1-year high of $19.04. The firm has a market cap of $109.27 million, a price-to-earnings ratio of 10.76 and a beta of 0.17. The company has a fifty day simple moving average of $16.25 and a two-hundred day simple moving average of $14.96.

Magyar Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.08 dividend. This is a positive change from Magyar Bancorp's previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.89%. Magyar Bancorp's dividend payout ratio (DPR) is 16.67%.

About Magyar Bancorp

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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