Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 200 shares, a drop of 71.4% from the July 31st total of 700 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 1,100 shares, the short-interest ratio is currently 0.2 days.
MGYR has been the subject of a number of research reports. TheStreet raised Magyar Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, May 28th. ValuEngine cut Magyar Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
NASDAQ MGYR traded down $0.18 during trading on Friday, hitting $12.00. 602 shares of the company traded hands, compared to its average volume of 2,148. Magyar Bancorp has a 12 month low of $10.93 and a 12 month high of $13.50. The business has a fifty day simple moving average of $11.74 and a 200 day simple moving average of $11.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $69.85 million, a P/E ratio of 24.49 and a beta of 0.05.
Magyar Bancorp (NASDAQ:MGYR) last posted its earnings results on Monday, July 22nd. The bank reported $0.12 earnings per share for the quarter. Magyar Bancorp had a return on equity of 5.46% and a net margin of 10.01%. The company had revenue of $5.65 million for the quarter.
An institutional investor recently raised its position in Magyar Bancorp stock. M3F Inc. raised its stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) by 15.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,583 shares of the bank’s stock after buying an additional 38,556 shares during the period. Magyar Bancorp accounts for approximately 2.9% of M3F Inc.’s portfolio, making the stock its 15th biggest holding. M3F Inc. owned 5.01% of Magyar Bancorp worth $3,283,000 as of its most recent SEC filing. 18.01% of the stock is owned by institutional investors.
Magyar Bancorp Company Profile
Magyar Bancorp, Inc operates as the mid-tier stock holding company for Magyar Bank that provides various banking products and services to families and businesses in New Jersey, the United States. Its product portfolio includes various deposit products, such as demand, NOW, money market, savings, and retirement accounts, as well as certificates of deposit; and loan products comprising one-to four-family residential mortgage loans, multi-family and commercial real estate mortgage loans, home equity loans and lines of credit, commercial business loans, small business administration loans, and construction loans, as well as consumer loans, which primarily include secured demand loans.
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