Magyar Bancorp Posts Record FY2026 Net Income of $12.6M, Raises Dividend to $0.12
MGYR sits 26% above its 52-week low of $16.03.
Summary
Magyar Bancorp reported record fiscal 2026 net income of $12.6 million, up 29%, and lifted its quarterly dividend to $0.12 per share — its second increase this fiscal year.
Key Events · Earnings and Guidance · MGYR
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Record FY2026 Earnings
Net income for the year ended September 30, 2026 rose 29% to $12.6 million from $9.8 million; quarterly net income rose 31% to $3.3 million.
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Dividend Raised to $0.12
Board declared a quarterly cash dividend of $0.12 per share, payable November 24, 2026 to holders of record November 10, 2026 — the second increase this fiscal year.
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Margin Expansion Drives Results
Net interest margin widened 35 basis points to 3.69% for the year and 37 basis points to 3.84% for the quarter, on 6.5% growth in average interest-earning assets to $1.016 billion.
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Clean Asset Quality
Non-performing loans were $428 thousand, or 0.05% of total loans, and other real estate owned fell to zero after the last property sold.
Analysis · MGYR · Finance
Full-year net income rose 29% to $12.6 million and quarterly profit jumped 31%, with the net interest margin widening 35 basis points to 3.69% despite a volatile rate backdrop. Management converted that into a second dividend increase this fiscal year, to $0.12 per quarter, which at today's $20.15 price is roughly a 2.4% annualized yield. Asset quality is clean — non-performing loans of $428 thousand are just 0.05% of the loan book and other real estate owned is now zero — so the earnings growth is not being offset by credit costs. The buyback remains small in practice: only 51,503 of the authorized 323,547 shares had been repurchased as of September 30, 2026.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, MGYR was trading at $20.15 on NASDAQ in the Finance sector, with a market capitalization of approximately $130.1M. The 52-week trading range was $16.03 to $22.15. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.