Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 300 shares, a growth of 200.0% from the August 15th total of 100 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,300 shares, the short-interest ratio is currently 0.2 days.
Separately, ValuEngine raised shares of Magyar Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th.
A hedge fund recently bought a new stake in Magyar Bancorp stock. Southside Capital LLC purchased a new position in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,871 shares of the bank’s stock, valued at approximately $107,000. Southside Capital LLC owned approximately 0.15% of Magyar Bancorp at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.01% of the company’s stock.
Shares of NASDAQ MGYR traded up $0.63 during midday trading on Friday, hitting $12.48. The company had a trading volume of 4,601 shares, compared to its average volume of 857. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $70.20 million, a price-to-earnings ratio of 24.61 and a beta of 0.07. The business has a 50-day simple moving average of $11.72 and a two-hundred day simple moving average of $11.81. Magyar Bancorp has a twelve month low of $10.93 and a twelve month high of $13.50.
Magyar Bancorp (NASDAQ:MGYR) last announced its earnings results on Monday, July 22nd. The bank reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $5.65 million during the quarter. Magyar Bancorp had a net margin of 10.01% and a return on equity of 5.46%.
About Magyar Bancorp
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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