Magyar Bancorp (NASDAQ:MGYR) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.59 and traded as low as $17.40. Magyar Bancorp shares last traded at $17.60, with a volume of 3,779 shares traded.

Analysts Set New Price Targets

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

Magyar Bancorp Price Performance

The firm has a 50-day moving average of $17.46 and a 200 day moving average of $17.59. The stock has a market capitalization of $113.43 million, a price-to-earnings ratio of 9.86 and a beta of 0.22.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter. Magyar Bancorp had a return on equity of 9.28% and a net margin of 18.32%.The company had revenue of $10.09 million for the quarter.

Magyar Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, May 7th. Magyar Bancorp’s payout ratio is currently 22.47%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MGYR. Charles Schwab Investment Management Inc. acquired a new stake in Magyar Bancorp in the 4th quarter worth about $544,000. Geode Capital Management LLC grew its position in 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 acquiring an additional 4,027 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Magyar Bancorp by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after buying an additional 737 shares in the last quarter. Truffle Hound Capital LLC grew its position in Magyar Bancorp by 23.1% during the 4th quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock worth $3,456,000 after acquiring an additional 37,514 shares during the last quarter. Finally, Maltese Capital Management LLC increased its stake in shares of Magyar Bancorp by 1.4% in the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock valued at $4,191,000 after buying an additional 3,453 shares during the period. Institutional investors own 46.32% of the company’s stock.

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.