Magyar Bancorp, Inc. (NASDAQ:MGYR) Shares Purchased by PL Capital Advisors LLC

PL Capital Advisors LLC raised its stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) by 1,360.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 comprises 0.6% of PL Capital Advisors LLC’s investment portfolio, making the stock its 18th biggest position. PL Capital Advisors LLC owned approximately 0.57% of Magyar Bancorp worth $54,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Private Advisor Group LLC purchased a new stake in shares of Magyar Bancorp during the third quarter worth approximately $136,000. Institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Stock Up 2.2 %

Shares of NASDAQ:MGYR opened at $14.72 on Wednesday. Magyar Bancorp, Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $14.74. The firm’s 50 day moving average price is $14.44 and its 200 day moving average price is $13.33. The stock has a market cap of $95.39 million, a price-to-earnings ratio of 11.24 and a beta of 0.30.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings data 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 firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.63%. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, February 6th. Magyar Bancorp’s payout ratio is 18.32%.

Magyar Bancorp 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.