Separately, TheStreet upgraded shares of Magyar Bancorp from a “c+” rating to a “b” rating in a report on Monday, December 31st.
NASDAQ:MGYR traded down $0.89 during trading hours on Friday, hitting $11.61. 407 shares of the stock traded hands, compared to its average volume of 2,382. Magyar Bancorp has a fifty-two week low of $11.26 and a fifty-two week high of $13.50. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The company has a market cap of $67.58 million, a P/E ratio of 28.32 and a beta of -0.01.
A hedge fund recently raised its stake in Magyar Bancorp stock. Dimensional Fund Advisors LP lifted its stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,088 shares of the bank’s stock after buying an additional 2,762 shares during the period. Dimensional Fund Advisors LP owned about 1.67% of Magyar Bancorp worth $1,189,000 at the end of the most recent reporting period. Institutional investors own 16.58% of the company’s stock.
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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