Magyar's earnings beat on a YoY basis with clear net interest margin expansion and pristine asset quality, but no forward guidance was provided. Expect modest positive drift over the next few days as the market absorbs the 25% net income growth. Monitor Q4 fiscal year-end results for loan growth sustainability and deposit cost trends.
Price Chart
Executive Summary
Magyar Bancorp reported fiscal Q3 2026 net income of $3.1M, up 25% YoY, with diluted EPS of $0.49 vs $0.40 prior year. Net interest margin expanded 30 bps to 3.65% and asset quality remained pristine. The company also declared a $0.10 quarterly dividend. Strong earnings growth reflects improving loan yields and controlled deposit costs, but no forward guidance was provided.
Key Financial Metrics
Key Facts
- Net income of $3.1M for Q3 2026, up 25.2% from $2.5M in Q3 2025
- Diluted EPS $0.49 vs $0.40 year-over-year
- Net interest margin expanded 30 bps to 3.65% from 3.35%
- Net interest income rose 15.2% to $9.4M
- Total loans receivable grew 3.6% to $890.0M from Sept 2025
- Non-performing loans to total loans ratio just 0.04%
- Book value per share increased to $19.61 from $18.34 at Sept 2025
- Declared quarterly dividend of $0.10 per share
- Repurchased 25,825 shares at avg $17.55 during nine months
Financial Impact
Net income increased $623K (+25%) to $3.1M for the quarter; net interest margin +30 bps to 3.65%
Risk Factors
- Potential for rising deposit costs if competition for deposits intensifies
- Concentration in commercial real estate loans (increased $56.6M) could raise credit risk in a downturn
- One construction loan charge-off of $300K highlights idiosyncratic risk in loan portfolio
- Limited geographic diversification concentrated in New Jersey
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302833383 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 23, 2026 13w ago | 8-K | $18.29 $19.72 | ▲ +7.79% | ▲ +4.50% | $20.24 (+10.63%) |
Jul 23, 2026 13w ago | Press Release | $18.29 $19.72 | ▲ +7.79% | ▲ +4.50% | $20.24 (+10.63%) |
Apr 23, 2026 26w ago | 8-K | $17.65 $17.49 | ▼ −0.90% | ▼ −5.98% | $20.24 (+14.69%) |
US Market Status
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