Alliancebernstein L.P. Cuts Stake in Magyar Bancorp, Inc. (NASDAQ:MGYR)

Posted by Danessa Lincoln on Apr 11th, 2025

Alliancebernstein L.P. cut its stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR – Free Report) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 634,385 shares of the bank’s stock after selling 9,820 shares during the quarter. Alliancebernstein L.P. owned about 9.66% of Magyar Bancorp worth $9,262,000 as of its most recent SEC filing.

Separately, Geode Capital Management LLC increased its stake in Magyar Bancorp by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after purchasing an additional 3,437 shares in the last quarter. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Stock Performance

Shares of Magyar Bancorp stock opened at $13.93 on Friday. The company has a 50-day simple moving average of $14.32 and a two-hundred day simple moving average of $13.78. Magyar Bancorp, Inc. has a 52-week low of $10.66 and a 52-week high of $14.90. The stock has a market capitalization of $90.27 million, a PE ratio of 10.63 and a beta of 0.08.

Magyar Bancorp (NASDAQ:MGYR – Get Free Report) 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. Stockholders of record on Thursday, February 6th were issued a dividend of $0.06 per share. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Thursday, February 6th. Magyar Bancorp’s dividend payout ratio is presently 18.32%.

Magyar Bancorp Company Profile

(Free Report)

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.