Magyar Bancorp (NASDAQ:MGYR) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.42 and traded as high as $17.68. Magyar Bancorp shares last traded at $17.68, with a volume of 1,116 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Magyar Bancorp has an average rating of “Hold”.

Magyar Bancorp Price Performance

The firm’s 50-day moving average price is $17.48 and its 200-day moving average price is $17.42. The company has a market cap of $114.57 million, a price-to-earnings ratio of 9.93 and a beta of 0.23.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter. Magyar Bancorp had a net margin of 18.32% and a return on equity of 9.38%. The company had revenue of $10.09 million during the quarter.

Magyar Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be paid a $0.10 dividend. The ex-dividend date is Thursday, May 7th. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. Magyar Bancorp’s dividend payout ratio is 22.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGYR. Truffle Hound Capital LLC boosted its stake in shares of Magyar Bancorp by 74.3% in the third quarter. Truffle Hound Capital LLC now owns 162,486 shares of the bank’s stock valued at $2,806,000 after purchasing an additional 69,245 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in shares of Magyar Bancorp in the fourth quarter valued at $544,000. Oppenheimer & Close LLC purchased a new position in shares of Magyar Bancorp in the third quarter valued at $416,000. Geode Capital Management LLC boosted its stake in shares of Magyar Bancorp by 6.9% in the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 4,027 shares during the period. Finally, M3F Inc. boosted its stake in shares of Magyar Bancorp by 1.3% in the first quarter. M3F Inc. now owns 283,894 shares of the bank’s stock valued at $4,914,000 after purchasing an additional 3,544 shares during the period. 46.32% of the stock is currently owned by hedge funds and other institutional investors.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp’s operations focus on relationship banking, emphasizing personalized service and community engagement.

The company’s product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.