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In a notable performance, Magyar Bancorp (MGYR) stock has reached a 52-week high, trading at $14.85. This peak reflects a significant uptrend for the community bank holding company, which has seen its shares soar over the past year. With a market capitalization of $95.57 million and a P/E ratio of 11.25, the company has demonstrated solid fundamentals. InvestingPro analysis confirms this trend, with two key insights highlighting the stock’s strength near its 52-week high. Investors have been closely monitoring Magyar Bancorp’s progress, as the stock’s ascent represents a substantial 1-year change of 32.06%. The company’s robust financial health, evidenced by its 7.24% revenue growth and 1.9% dividend yield, has contributed to investor confidence, propelling the stock to this new high-water mark. As market participants continue to evaluate the banking sector’s prospects, Magyar Bancorp’s recent milestone and GOOD Financial Health Score from InvestingPro underscore its growing presence and potential for further gains. Based on InvestingPro’s Fair Value analysis, the stock is currently trading near its fair value.
In other recent news, Magyar Bancorp, Inc. held its 2025 Annual Meeting of Stockholders, where several key decisions were made. Shareholders re-elected John S. Fitzgerald, Thomas Lankey, and Joseph A. Yelencsics as directors for three-year terms. The meeting also addressed executive compensation, with a majority of stockholders favoring an annual vote on this matter. The advisory resolution to approve compensation for the company’s named executive officers passed with 3,587,725 votes in favor. Additionally, S.R. Snodgrass, P.C. was ratified as the independent registered public accounting firm for the fiscal year ending September 30, 2025, with 4,900,184 votes supporting the appointment. These recent developments reflect Magyar Bancorp’s ongoing commitment to transparency and corporate governance.
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