Magyar Bancorp, Inc. (NASDAQ:MGYR) Short Interest Update
Magyar Bancorp, Inc. (NASDAQ:MGYR) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 200 shares, a decline of 71.4% from the July 31st total of 700 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 1,100 shares, the days-to-cover ratio is currently 0.2 days.
A number of equities analysts have commented on MGYR shares. TheStreet raised shares of Magyar Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, May 28th. ValuEngine downgraded shares of Magyar Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.
An institutional investor recently bought a new position in Magyar Bancorp stock. Southside Capital LLC purchased a new stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,871 shares of the bank’s stock, valued at approximately $107,000. Southside Capital LLC owned 0.15% of Magyar Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC). 18.01% of the stock is owned by institutional investors and hedge funds.
Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.12 EPS for the quarter. The firm 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%.
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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