Magyar Bancorp (NASDAQ:MGYR) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.20 and traded as high as $18.50. Magyar Bancorp shares last traded at $18.40, with a volume of 12,504 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Magyar Bancorp in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Magyar Bancorp Stock Performance

The company has a market cap of $120.26 million, a P/E ratio of 10.64 and a beta of 0.26. The stock has a 50-day moving average of $17.48 and a two-hundred day moving average of $17.21.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Thursday, January 29th. The bank reported $0.50 EPS for the quarter. Magyar Bancorp had a return on equity of 9.28% and a net margin of 16.25%.The company had revenue of $9.65 million for the quarter.

Magyar Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, February 12th. Magyar Bancorp’s payout ratio is 23.12%.

Institutional Investors Weigh In On Magyar Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Truffle Hound Capital LLC lifted 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 worth $2,806,000 after acquiring an additional 69,245 shares during the period. Dimensional Fund Advisors LP lifted its position in Magyar Bancorp by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after acquiring an additional 737 shares during the last quarter. Geode Capital Management LLC increased 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 in the last quarter. Finally, Oppenheimer & Close LLC purchased a new position in Magyar Bancorp during the 3rd quarter worth $416,000. 46.32% of the stock is currently owned by hedge funds and other institutional investors.

About Magyar Bancorp

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.