Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Update

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 6,300 shares, an increase of 26.0% from the February 13th total of 5,000 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 2,200 shares, the short-interest ratio is currently 2.9 days.

Magyar Bancorp Stock Down 0.1 %

MGYR stock opened at $14.29 on Wednesday. The company has a market cap of $92.61 million, a price-to-earnings ratio of 10.91 and a beta of 0.29. The business has a fifty day simple moving average of $14.45 and a 200-day simple moving average of $13.57. Magyar Bancorp has a 52 week low of $10.30 and a 52 week high of $14.90.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share for the quarter. Magyar Bancorp had a net margin of 15.25% and a return on equity of 7.49%.

Magyar Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.06 dividend. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, February 6th. Magyar Bancorp’s dividend payout ratio is presently 18.32%.

Hedge Funds Weigh In On Magyar Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Magyar Bancorp by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after buying an additional 3,437 shares during the last quarter. PL Capital Advisors LLC lifted its position in shares of Magyar Bancorp by 1,360.0% during 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. Northern Trust Corp lifted its position in shares of Magyar Bancorp by 37.2% during the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after purchasing an additional 7,501 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 worth $1,930,000 after purchasing an additional 974 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of 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 purchasing an additional 2,300 shares during the last quarter. 46.32% of the stock is owned by hedge funds and other institutional investors.

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.