Magyar Bancorp (NASDAQ:MGYR) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.44 and traded as high as $14.73. Magyar Bancorp shares last traded at $14.68, with a volume of 1,876 shares changing hands.

Magyar Bancorp Trading Down 0.9 %

The firm’s 50-day moving average price is $14.46 and its 200 day moving average price is $13.45. The company has a market capitalization of $94.28 million, a price-to-earnings ratio of 11.11 and a beta of 0.29.

Magyar Bancorp (NASDAQ:MGYR) last issued its earnings results on Thursday, January 23rd. The bank reported $0.33 EPS for the quarter. Magyar Bancorp had a net margin of 15.25% and a return on equity of 7.49%.

Magyar Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.65%. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, February 6th. Magyar Bancorp’s dividend payout ratio is currently 18.32%.

Hedge Funds Weigh In On Magyar Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new position in Magyar Bancorp during the 3rd quarter worth approximately $136,000. Renaissance Technologies LLC increased its position in Magyar Bancorp by 16.1% during the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after purchasing an additional 2,300 shares in the last quarter. Northern Trust Corp increased its position in Magyar Bancorp by 37.2% in the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after acquiring an additional 7,501 shares during the period. Geode Capital Management LLC increased its position in Magyar Bancorp by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after acquiring an additional 3,437 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Magyar Bancorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after acquiring an additional 974 shares during the period. 46.32% of the stock is currently owned by institutional investors and hedge funds.

Magyar Bancorp Company Profile

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.