Short Interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) Grows By 92.8%

by · The Markets Daily

Magyar Bancorp, Inc. (NASDAQ:MGYR – Get Free Report) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 12,334 shares, an increase of 92.8% from the December 15th total of 6,398 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 5,581 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily volume of 5,581 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Magyar Bancorp

Several large investors have recently added to or reduced their stakes in the company. Oppenheimer & Close LLC purchased a new stake in shares of Magyar Bancorp during the third quarter valued at $416,000. Geode Capital Management LLC grew its position in Magyar Bancorp by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after purchasing an additional 4,027 shares in the last quarter. Truffle Hound Capital LLC acquired a new stake in Magyar Bancorp during the 2nd quarter valued at $1,554,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Magyar Bancorp by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after purchasing an additional 737 shares in the last quarter. 46.32% of the stock is currently owned by institutional investors.

Magyar Bancorp Price Performance

MGYR stock traded up $0.03 during midday trading on Friday, hitting $17.71. The stock had a trading volume of 1,114 shares, compared to its average volume of 3,952. Magyar Bancorp has a 12-month low of $13.52 and a 12-month high of $19.04. The firm has a market cap of $115.72 million, a PE ratio of 11.35 and a beta of 0.23. The company’s 50-day moving average price is $17.21 and its 200 day moving average price is $17.10.

Magyar Bancorp (NASDAQ:MGYR – Get Free Report) last issued its earnings results on Friday, December 19th. The bank reported $0.39 earnings per share for the quarter. Magyar Bancorp had a return on equity of 8.47% and a net margin of 15.00%.The firm had revenue of $9.25 million for the quarter.

Magyar Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, November 13th. Magyar Bancorp’s dividend payout ratio is 20.51%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Read Our Latest Research Report on Magyar Bancorp

About Magyar Bancorp

(Get Free Report)

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp’s operations focus on relationship banking, emphasizing personalized service and community engagement.

The company’s product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.

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