Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Down 25.6% in March

by · The Markets Daily

Magyar Bancorp, Inc. (NASDAQ:MGYR – Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,900 shares, a drop of 25.6% from the March 15th total of 3,900 shares. Based on an average daily volume of 2,300 shares, the short-interest ratio is currently 1.3 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted 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 valued at $242,000 after purchasing an additional 2,300 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Magyar Bancorp by 37.2% during the 4th 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. Geode Capital Management LLC boosted its holdings in Magyar Bancorp by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock worth $713,000 after buying an additional 3,437 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 974 shares in the last quarter. Finally, PL Capital Advisors LLC raised 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 valued at $54,261,000 after acquiring an additional 3,461,975 shares during the period. 46.32% of the stock is owned by hedge funds and other institutional investors.

Magyar Bancorp Stock Performance

Shares of NASDAQ MGYR traded up $0.11 during midday trading on Friday, hitting $13.81. 508 shares of the company’s stock traded hands, compared to its average volume of 3,930. The stock has a market capitalization of $89.46 million, a price-to-earnings ratio of 10.54 and a beta of 0.08. The firm has a fifty day moving average of $14.22 and a 200 day moving average of $13.83. Magyar Bancorp has a 1 year low of $10.66 and a 1 year high of $14.90.

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

Magyar Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.06 dividend. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.74%. Magyar Bancorp’s dividend payout ratio is presently 18.32%.

Magyar Bancorp Company Profile

(Get Free Report)

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.

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