Short Interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) Increases By 26.0%

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

Hedge Funds Weigh In On Magyar Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PL Capital Advisors LLC lifted its position in 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 acquiring an additional 3,461,975 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Magyar Bancorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after purchasing an additional 974 shares in the last quarter. Geode Capital Management LLC raised its position 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 purchasing an additional 3,437 shares in the last quarter. Northern Trust Corp raised its position in shares of Magyar Bancorp by 37.2% in the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after purchasing an additional 7,501 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Magyar Bancorp by 16.1% in the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after purchasing an additional 2,300 shares in the last quarter. 46.32% of the stock is owned by institutional investors and hedge funds.

Magyar Bancorp Trading Up 1.0 %

MGYR traded up $0.14 during midday trading on Monday, hitting $14.30. The company’s stock had a trading volume of 3,280 shares, compared to its average volume of 4,210. The firm has a market cap of $92.66 million, a P/E ratio of 10.92 and a beta of 0.29. The firm has a 50-day moving average price of $14.44 and a two-hundred day moving average price of $13.54. Magyar Bancorp has a 52-week low of $10.30 and a 52-week high of $14.90.

Magyar Bancorp (NASDAQ:MGYR) last issued its 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, February 6th. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.68%. Magyar Bancorp’s payout ratio 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.