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

Magyar Bancorp, Inc. (NASDAQ:MGYR) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 6,300 shares, an increase of 26.0% from the February 13th total of 5,000 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 2,200 shares, the days-to-cover ratio is currently 2.9 days.

Magyar Bancorp Trading Up 1.0 %

MGYR traded up $0.14 on Monday, hitting $14.30. 3,280 shares of the company’s stock were exchanged, compared to its average volume of 4,210. Magyar Bancorp has a fifty-two week low of $10.30 and a fifty-two week high of $14.90. The firm has a 50-day moving average price of $14.44 and a 200-day moving average price of $13.54. The stock has a market cap of $92.66 million, a price-to-earnings ratio of 10.92 and a beta of 0.29.

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

Institutional Trading of Magyar Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Magyar Bancorp by 16.1% during the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after purchasing an additional 2,300 shares during the period. Northern Trust Corp lifted its holdings in shares of Magyar Bancorp by 37.2% during the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after purchasing an additional 7,501 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Magyar Bancorp by 6.3% during the third 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 period. Dimensional Fund Advisors LP lifted its holdings 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 acquiring an additional 974 shares during the period. Finally, PL Capital Advisors LLC lifted its holdings 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 acquiring an additional 3,461,975 shares during the period. 46.32% of the stock is currently owned by hedge funds and other institutional investors.

About Magyar Bancorp

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.