Magyar Bancorp Posts 29% Jump in Fiscal 2026 Net Income to $12.6M, Lifts Dividend to $0.12
MGYR sits 26% above its 52-week low of $16.03.
Summary
Magyar Bancorp closed fiscal 2026 with net income of $12.6 million, up 29% from $9.8 million, and fourth-quarter net income of $3.3 million, up 31% year over year. Diluted EPS for the year rose to $1.99 from $1.56, and to $0.52 in the quarter from $0.40. The board raised the quarterly dividend to $0.12 per share, payable November 24 to holders of record November 10 — the second increase this fiscal year. The driver was the margin: net interest margin widened 35 basis points to 3.69% for the year and 37 basis points to 3.84% in the quarter, with net interest income up 17.5% to $37.5 million. Asset quality is clean, with non-performing loans at just 0.05% of total loans and other real estate owned down to zero. The 8-K filed at 20:00 ET carries the same figures; this release adds management commentary and the dividend detail.
At the time of this announcement, 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 news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.