PL Capital Advisors LLC Grows Position in Magyar Bancorp, Inc. (NASDAQ:MGYR)

PL Capital Advisors LLC boosted its stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) by 1,360.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,716,532 shares of the bank’s stock after buying an additional 3,461,975 shares during the period. Magyar Bancorp makes up approximately 0.6% of PL Capital Advisors LLC’s portfolio, making the stock its 18th biggest position. PL Capital Advisors LLC owned about 56.57% of Magyar Bancorp worth $54,261,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Geode Capital Management LLC raised its position 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 period. 46.32% of the stock is owned by hedge funds and other institutional investors.

Magyar Bancorp Stock Up 2.2 %

MGYR opened at $14.72 on Wednesday. Magyar Bancorp, Inc. has a 52 week low of $10.30 and a 52 week high of $14.74. The business has a fifty day simple moving average of $14.44 and a 200-day simple moving average of $13.33. The firm has a market cap of $95.39 million, a P/E ratio of 11.24 and a beta of 0.30.

Magyar Bancorp (NASDAQ:MGYR) last announced its 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s payout ratio is 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.