Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Magyar Bancorp, Inc. (NASDAQ:MGYR) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.71 and traded as high as $17.00. Magyar Bancorp shares last traded at $17.00, with a volume of 7,884 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Magyar Bancorp currently has a consensus rating of “Hold”.

Magyar Bancorp Price Performance

The stock has a 50 day moving average price of $17.01 and a two-hundred day moving average price of $16.71. The company has a market capitalization of $108.04 million, a price-to-earnings ratio of 10.74 and a beta of 0.25.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings results on Thursday, October 30th. The bank reported $0.40 earnings per share for the quarter. Magyar Bancorp had a return on equity of 8.56% and a net margin of 15.00%.The company had revenue of $9.25 million for the quarter.

Magyar Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Thursday, November 13th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.9%. Magyar Bancorp’s dividend payout ratio (DPR) is presently 20.51%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Magyar Bancorp by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock worth $2,311,000 after buying an additional 737 shares in the last quarter. Oppenheimer & Close LLC acquired a new position in shares of Magyar Bancorp in the 3rd quarter valued at about $416,000. Truffle Hound Capital LLC increased its stake in 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Magyar Bancorp by 6.9% during the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after purchasing an additional 4,027 shares during the period. Institutional investors own 46.32% of the company’s stock.

About Magyar Bancorp

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.