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

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

Hedge Funds Weigh In On Magyar Bancorp

Several institutional investors have recently bought and sold shares of MGYR. PL Capital Advisors LLC lifted its holdings in 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 buying an additional 3,461,975 shares during the period. 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 worth $1,930,000 after acquiring an additional 974 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Magyar Bancorp by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock worth $713,000 after purchasing an additional 3,437 shares during the last quarter. Northern Trust Corp boosted its position in Magyar Bancorp by 37.2% during the fourth 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 grew its stake 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 purchasing an additional 2,300 shares during the last quarter. 46.32% of the stock is owned by hedge funds and other institutional investors.

Magyar Bancorp Price Performance

MGYR stock traded down $0.11 during mid-day trading on Friday, reaching $13.98. The company had a trading volume of 4,731 shares, compared to its average volume of 4,106. The company has a market capitalization of $90.59 million, a PE ratio of 10.67 and a beta of 0.29. The firm has a 50 day moving average of $14.44 and a 200 day moving average of $13.66. Magyar Bancorp has a 12 month low of $10.66 and a 12 month high of $14.90.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 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 firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s dividend payout ratio is presently 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.