Magyar Bancorp (NASDAQ:MGYR) Releases Earnings Results

Magyar Bancorp (NASDAQ:MGYR) issued its quarterly 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 Stock Up 1.5 %

Magyar Bancorp stock opened at $14.30 on Friday. The stock’s 50 day moving average is $14.20 and its 200 day moving average is $12.95. The company has a market capitalization of $93.95 million, a P/E ratio of 11.53 and a beta of 0.30. Magyar Bancorp has a twelve month low of $10.30 and a twelve month high of $14.74.

Magyar Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.06 per share. 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. The ex-dividend date is Thursday, February 6th. Magyar Bancorp’s dividend payout ratio (DPR) is presently 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.