Magyar Bancorp (NASDAQ:MGYR) Releases Quarterly Earnings Results

Magyar Bancorp (NASDAQ:MGYR) released its earnings results on Thursday. The bank reported $0.33 earnings per share (EPS) for the quarter, Zacks reports. Magyar Bancorp had a net margin of 14.91% and a return on equity of 7.18%.

Magyar Bancorp Trading Up 0.9 %

NASDAQ:MGYR opened at $14.31 on Friday. The firm has a fifty day simple moving average of $14.14 and a two-hundred day simple moving average of $12.92. Magyar Bancorp has a 12 month low of $10.30 and a 12 month high of $14.74. The stock has a market capitalization of $94.04 million, a price-to-earnings ratio of 11.54 and a beta of 0.30.

Magyar Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.68%. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s payout ratio is currently 16.13%.

About Magyar Bancorp

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.