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

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $18.16 and traded as high as $19.37. Magyar Bancorp shares last traded at $19.37, with a volume of 847 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a report on Friday, July 17th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Magyar Bancorp presently has a consensus rating of “Hold”.

Magyar Bancorp Stock Down 0.1%

The company has a fifty day moving average of $19.35 and a two-hundred day moving average of $18.18. The stock has a market capitalization of $123.13 million, a price-to-earnings ratio of 10.19 and a beta of 0.29.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $10.25 million for the quarter. Magyar Bancorp had a net margin of 18.89% and a return on equity of 9.59%.

Magyar Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 6th. Magyar Bancorp’s payout ratio is 21.39%.

Institutional Investors Weigh In On Magyar Bancorp

A number of hedge funds have recently added to or reduced their stakes in MGYR. Maltese Capital Management LLC raised its position in Magyar Bancorp by 1.4% in the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after acquiring an additional 3,453 shares in the last quarter. M3F Inc. boosted its position in shares of Magyar Bancorp by 1.3% during the 1st quarter. M3F Inc. now owns 283,894 shares of the bank’s stock worth $4,914,000 after purchasing an additional 3,544 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Magyar Bancorp during the 2nd quarter worth $359,000. Finally, Corient Private Wealth LP acquired a new position in shares of Magyar Bancorp during the 2nd quarter worth $698,000. Institutional investors and hedge funds own 46.32% of the company’s stock.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc is the holding company for Magyar Bank, a community banking institution headquartered in New Brunswick, New Jersey. The bank serves individuals, families, businesses and nonprofit organizations primarily in central New Jersey through its branch network and digital banking services.

Magyar Bank provides a range of traditional banking products, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, construction financing, consumer loans and business lending.