Magyar Bancorp Posts 25% Q3 Net Income Growth, Declares $0.10 Dividend
MGYR is trading near its 52-week low of $15.813 (11% above the low) on light trading volume (0.3× avg).
Summary
Driven by wider net interest margins, Magyar Bancorp increased fiscal Q3 net income 25% to $3.1 million and declared a $0.10 quarterly dividend.
Key Events · Earnings and Guidance · MGYR
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Q3 Net Income Up 25%
Net income rose to $3.1 million ($0.50 per share) from $2.5 million a year ago, driven by a 30-basis-point increase in net interest margin to 3.65%.
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Nine-Month Earnings Surge 28%
For the nine months ended June 30, 2026, net income reached $9.3 million ($1.49 per share) compared with $7.2 million in the prior-year period.
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Quarterly Dividend Declared
The board approved a $0.10 per share cash dividend, payable August 20, 2026 to shareholders of record on August 6, 2026.
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Balance Sheet Growth
Total assets surpassed $1 billion, rising 5.1% to $1.048 billion, with loans up 3.6% and deposits up 4.9% from September 30, 2025.
Analysis · MGYR · Finance
A 30-basis-point expansion in net interest margin powered Magyar Bancorp to a strong fiscal third quarter, lifting net income 25% to $3.1 million. The performance extends a broader trend of improving profitability, with nine-month earnings up 28%. Reflecting confidence in the trajectory, the board declared a $0.10 quarterly dividend. For a $113 million community bank, consistent double-digit earnings growth and a steady dividend are notable positives, though the small absolute size of the company limits the market-moving potential.
At the time of this filing, MGYR was trading at $17.48 on NASDAQ in the Finance sector, with a market capitalization of approximately $113M. The 52-week trading range was $15.81 to $20.00. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.