Magyar Bancorp (NASDAQ:MGYR) Announces Earnings Results

Magyar Bancorp (NASDAQ:MGYR) released its quarterly earnings results on Thursday. The bank reported $0.33 earnings per share (EPS) for the quarter, Zacks reports. Magyar Bancorp had a return on equity of 7.18% and a net margin of 14.91%.

Magyar Bancorp Stock Up 0.9 %

NASDAQ MGYR traded up $0.13 during trading hours on Thursday, hitting $14.31. The company’s stock had a trading volume of 459 shares, compared to its average volume of 1,663. The stock has a fifty day moving average of $14.14 and a 200 day moving average of $12.92. Magyar Bancorp has a twelve month low of $10.30 and a twelve month high of $14.74. The firm has a market capitalization of $94.04 million, a P/E ratio of 11.54 and a beta of 0.30.

Magyar Bancorp Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.04 per share. The ex-dividend date was Friday, December 6th. Magyar Bancorp’s dividend payout ratio (DPR) is 16.13%.

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.