August 13, 2020

Notable News to Focus: Magyar Bancorp (NASDAQ:MGYR)

Magyar Bancorp (NASDAQ:MGYR) stock observed trading -40.95% off 52-week high price. On the other end, the stock has been noted 1.33% away from low price over the last 52-weeks. The stock disclosed a move of -15.66% away from 50 day moving average and -32.09% away from 200 day moving average. Moving closer, we can see that shares have been trading -14.14% off 20-day moving average. It has market cap of $44.16M.

On July 23, 2020, Magyar Bancorp (NASDAQ:MGYR) parent company of Magyar Bank, notified the results of its operations for the three and nine months ended June 30, 2020.

The Company reported net income of $509,000, or $0.09 per share, for the three months ended June 30, 2020, compared to net income of $726,000, or $0.12 per share, for the three months ended June 30, 2019.

Net income for the nine months ended June 30, 2020 was $1.4 million, or $0.24 per share, compared to net income of $2.2 million, or $0.37 per share, for the nine months ended June 30, 2019.

The Coronavirus pandemic is arguably the most challenging time period Magyar has faced in its near 100 year history, and, as we have done in prior times of crisis, Magyar Bank has been at the forefront in assisting our customers and the community in navigating these unchartered waters, stated John Fitzgerald, President and CEO.

The USA based company Magyar Bancorp moved with change of -4.59% to $7.6 with the total traded volume of 2679 shares in recent session versus to an average volume of 1.00K shares. The stock was observed in the 5 days activity at -7.15%. The one month performance of stock was -19.06%. MGYR’s shares are at -38.51% for the quarter and driving a -37.76% return over the course of the past year and is now at -38.21% since this point in 2018.  Right now the stock beta is 0.39. The average volatility for the week and month was at 5.72% and 2.61% respectively. There are 5.82M shares outstanding and 2.38M shares are floated in market.