Magyar Bancorp reports Q1 EPS 33c vs. 26c last year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 23 2025
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Earnings Growth: The company reported a 26% increase in earnings for the first quarter compared to the previous year, with book value per share rising to $17.23 as of December 31, 2024.
Asset and Liquidity Improvement: Total assets surpassed $1 billion due to a 6.5% rise in deposits, while net interest margin improved by 14 basis points, benefiting from recent Federal Reserve rate cuts.
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Analyst Views on MGYR
About MGYR
Magyar Bancorp, Inc. is a bank holding company of Magyar Bank (the Bank). It acts as an independent, community, financial services provider, and offers traditional banking and related financial services to individual, business and government customers. Its principal business consists of attracting retail deposits from the public. The Bank invests its deposits, together with funds generated from operations and wholesale funding, in commercial real estate loans, residential mortgage loans, commercial business loans, small business administration loans, home equity loans, home equity lines of credit, construction and land loans and investment securities. It offers a full array of commercial and retail financial services, including the taking of time, savings and demand deposits, the making of commercial, consumer and home equity loans, and the provision of other financial services. Additionally, its source of funds includes principal and interest payments from loans and securities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Magyar Bancorp Reports Strong Q1 Earnings
- Earnings Per Share Growth: Magyar Bancorp reported a GAAP EPS of $0.50 for Q1, indicating stable profitability and reflecting the company's competitive position in the market.
- Net Interest Income Increase: For the quarter ending December 31, 2025, net interest and dividend income rose by $1.5 million, or 19%, from $7.4 million to $8.9 million, demonstrating effective asset-liability management in the current interest rate environment.
- Improved Financial Health: The increase in income further solidifies Magyar Bancorp's financial position, enhancing its capacity for future investments and business expansion, which may attract more investor interest.
- Optimistic Market Outlook: The positive signals from the company's financial performance, combined with Seeking Alpha's Quant Rating, could boost market confidence in Magyar Bancorp, potentially driving further stock price appreciation.
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Magyar Bancorp Inc. Reports Decrease in Q4 Earnings
Earnings Report: Magyar Bancorp inc. reported a profit of $2.53 million, or $0.40 per share, for the fourth quarter, a slight decrease from $2.54 million, or $0.41 per share, in the same period last year.
Revenue Growth: The company's revenue increased by 19.7% to $8.40 million, up from $7.02 million in the previous year.
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