Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Down 22.7% in March

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,400 shares, a decline of 22.7% from the March 15th total of 4,400 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 5,200 shares, the short-interest ratio is presently 0.7 days.

Magyar Bancorp Stock Down 0.4 %

Shares of MGYR traded down $0.04 during trading hours on Friday, reaching $10.95. 1,795 shares of the company traded hands, compared to its average volume of 6,546. The stock has a market capitalization of $72.82 million, a P/E ratio of 9.28 and a beta of 0.32. The business has a fifty day moving average price of $11.28 and a 200-day moving average price of $10.64. Magyar Bancorp has a 12-month low of $9.00 and a 12-month high of $12.00.

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

Magyar Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Wednesday, February 7th. Magyar Bancorp's dividend payout ratio is presently 16.95%.

Institutional Trading of Magyar Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. boosted its stake in shares of Magyar Bancorp by 11.4% in the second quarter. Alliancebernstein L.P. now owns 591,243 shares of the bank's stock worth $6,113,000 after buying an additional 60,638 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Magyar Bancorp by 2.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 127,572 shares of the bank's stock worth $1,586,000 after purchasing an additional 3,319 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Magyar Bancorp by 699.6% during the 3rd quarter. Vanguard Group Inc. now owns 102,189 shares of the bank's stock worth $1,270,000 after purchasing an additional 89,409 shares during the period. Geode Capital Management LLC increased its holdings in shares of Magyar Bancorp by 11.7% during the 2nd quarter. Geode Capital Management LLC now owns 35,632 shares of the bank's stock valued at $369,000 after purchasing an additional 3,742 shares in the last quarter. Finally, BHZ Capital Management LP purchased a new position in shares of Magyar Bancorp during the 4th quarter valued at approximately $318,000. 46.32% of the stock is currently owned by institutional investors and hedge funds.

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.