PL Capital Advisors LLC raised its holdings in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR - Free Report) by 1,360.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,716,532 shares of the bank's stock after purchasing an additional 3,461,975 shares during the period. Magyar Bancorp accounts for 0.6% of PL Capital Advisors LLC's portfolio, making the stock its 18th largest position. PL Capital Advisors LLC owned approximately 56.57% of Magyar Bancorp worth $54,261,000 as of its most recent SEC filing.
Separately, Geode Capital Management LLC increased its stake 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 valued at $713,000 after purchasing an additional 3,437 shares in the last quarter. 46.32% of the stock is currently owned by institutional investors.
Magyar Bancorp Stock Up 1.0 %
Shares of NASDAQ MGYR traded up $0.15 on Friday, reaching $14.90. 1,069 shares of the company's stock traded hands, compared to its average volume of 1,794. The business's 50 day simple moving average is $14.46 and its two-hundred day simple moving average is $13.37. Magyar Bancorp, Inc. has a 12 month low of $10.30 and a 12 month high of $14.90. The company has a market cap of $96.55 million, a price-to-earnings ratio of 11.37 and a beta of 0.30.
Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 EPS 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 company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.06 per share. This is a boost from Magyar Bancorp's previous quarterly dividend of $0.05. 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 1.61%. Magyar Bancorp's dividend payout ratio is presently 18.32%.
About Magyar Bancorp
(
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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