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

Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a significant growth in short interest in 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. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 2,200 shares, the days-to-cover ratio is currently 2.9 days.

Magyar Bancorp Stock Down 0.1 %

Shares of MGYR stock traded down $0.01 on Tuesday, hitting $14.29. The stock had a trading volume of 2,870 shares, compared to its average volume of 4,204. The business has a 50 day moving average price of $14.45 and a 200 day moving average price of $13.56. The company has a market cap of $92.61 million, a PE ratio of 10.91 and a beta of 0.29. Magyar Bancorp has a one year low of $10.30 and a one year high of $14.90.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data 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 business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, February 6th. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s payout ratio is 18.32%.

Hedge Funds Weigh In On Magyar Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGYR. 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. Northern Trust Corp grew its stake 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 purchasing an additional 7,501 shares during the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 3,437 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 974 shares during the last quarter. Finally, PL Capital Advisors LLC grew its stake 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 purchasing 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 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.