Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
In a remarkable display of market confidence, Magyar Bancorp (MGYR) stock has reached an all-time high, touching a price level of $15.79. The community bank, with a market capitalization of $101.59 million, maintains a modest P/E ratio of 10.83 and offers shareholders a dividend yield of 1.78%. This milestone underscores a period of robust growth for the community bank, which has seen its shares surge by an impressive 44.44% over the past year, supported by solid revenue growth of 12.12%. Investors have rallied behind Magyar Bancorp, propelling the stock to new heights and reflecting a bullish outlook on the company’s financial performance and strategic initiatives. The all-time high represents a significant achievement for Magyar Bancorp, marking a pinnacle in its stock’s valuation and setting a new benchmark for its future market endeavors. According to InvestingPro analysis, the stock appears slightly undervalued, with additional ProTips highlighting its strong returns and financial metrics.
In other recent news, Magyar Bancorp reported a substantial 41% increase in net income for the recent quarter, reaching $2.7 million, compared to $1.9 million in the same period the previous year. For the half-year ending March 31, 2025, net income rose to $4.8 million, a 34.3% increase from the prior year. Earnings per share also saw an uptick, with quarterly earnings at $0.43 per share, up from $0.30 in the previous year. Additionally, the company declared a quarterly cash dividend of $0.06 per share, payable to stockholders on May 28, 2025.
Magyar Bancorp attributes its financial success to increased net interest income and other income, alongside strong net interest margin expansion. The company also completed its stock repurchase program, buying back 337,146 shares, and announced a new repurchase plan to buy up to 5% of its outstanding shares. The timing and volume of these repurchases will depend on market conditions and the company’s liquidity needs. The company’s total assets grew by 7.3% to $1.0 billion, with improvements in loans receivable and deposits. These developments reflect Magyar Bancorp’s strategic initiatives and financial performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.