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

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the target of a significant 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 trading volume of 2,200 shares, the short-interest ratio is currently 2.9 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Magyar Bancorp

A number of large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Magyar Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after buying an additional 974 shares during the last quarter. Renaissance Technologies LLC boosted its position in Magyar Bancorp by 16.1% in the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after buying an additional 2,300 shares during the last quarter. Geode Capital Management LLC boosted its position in Magyar Bancorp by 6.3% in the third 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. Northern Trust Corp boosted its position 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 during the last quarter. Finally, PL Capital Advisors LLC boosted its position in Magyar Bancorp by 1,360.0% in the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after buying an additional 3,461,975 shares during the last quarter. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Trading Down 0.1 %

Shares of MGYR stock traded down $0.01 during trading hours on Tuesday, reaching $14.29. 2,870 shares of the company’s stock were exchanged, compared to its average volume of 4,204. Magyar Bancorp has a 1 year low of $10.30 and a 1 year high of $14.90. The stock has a market cap of $92.61 million, a PE ratio of 10.91 and a beta of 0.29. The stock’s fifty day moving average price is $14.45 and its two-hundred day moving average price is $13.56.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share 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. Investors of record on Thursday, February 6th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.68%. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s dividend payout ratio is currently 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.