Magyar Bancorp, Inc. (NASDAQ:MGYR) Sees Large Decline in Short Interest

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 3,900 shares, a decline of 38.1% from the February 28th total of 6,300 shares. Based on an average trading volume of 2,100 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Magyar Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of 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 period. PL Capital Advisors LLC boosted its position in shares of Magyar Bancorp by 1,360.0% during the 4th 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in 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 buying an additional 2,300 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 buying an additional 974 shares during the period. Finally, Northern Trust Corp increased its holdings in Magyar Bancorp by 37.2% in the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after buying an additional 7,501 shares in the last quarter. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Trading Down 0.6 %

MGYR stock traded down $0.08 on Monday, hitting $13.90. The company’s stock had a trading volume of 2,081 shares, compared to its average volume of 4,097. Magyar Bancorp has a 1 year low of $10.66 and a 1 year high of $14.90. The stock has a market cap of $90.07 million, a price-to-earnings ratio of 10.61 and a beta of 0.29. The firm has a 50 day moving average of $14.44 and a two-hundred day moving average of $13.68.

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

Magyar Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, February 6th. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s dividend payout ratio (DPR) is 18.32%.

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.