Short Interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) Expands By 22.2%

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 4,400 shares, a growth of 22.2% from the February 29th total of 3,600 shares. Approximately 0.1% of the company's stock are short sold. Based on an average daily trading volume, of 5,000 shares, the days-to-cover ratio is presently 0.9 days.

Magyar Bancorp Trading Up 0.2 %

Shares of MGYR traded up $0.02 during midday trading on Monday, reaching $11.14. 6,057 shares of the stock were exchanged, compared to its average volume of 5,358. The company has a market capitalization of $74.08 million, a P/E ratio of 9.44 and a beta of 0.32. Magyar Bancorp has a 52 week low of $9.00 and a 52 week high of $12.00. The company's 50 day moving average is $11.33 and its two-hundred day moving average is $10.58.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last issued its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter. Magyar Bancorp had a net margin of 17.23% and a return on equity of 7.27%. The company had revenue of $7.85 million for the quarter.

Magyar Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.20 dividend on an annualized basis and a yield of 1.80%. Magyar Bancorp's dividend payout ratio is currently 16.95%.

Institutional Trading of Magyar Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of MGYR. BlackRock Inc. raised its position in shares of Magyar Bancorp by 76.4% in the 1st quarter. BlackRock Inc. now owns 16,318 shares of the bank's stock worth $193,000 after acquiring an additional 7,067 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Magyar Bancorp by 2.7% during the third quarter. Dimensional Fund Advisors LP now owns 127,572 shares of the bank's stock valued at $1,586,000 after buying an additional 3,319 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Magyar Bancorp by 699.6% in the 3rd quarter. Vanguard Group Inc. now owns 102,189 shares of the bank's stock valued at $1,270,000 after buying an additional 89,409 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Magyar Bancorp by 30.1% in the 3rd quarter. Alliancebernstein L.P. now owns 404,407 shares of the bank's stock valued at $5,027,000 after buying an additional 93,508 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Magyar Bancorp by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 31,890 shares of the bank's stock worth $408,000 after buying an additional 848 shares during the last quarter. Institutional investors own 46.32% of the company's stock.

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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