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

Magyar Bancorp, Inc. (NASDAQ:MGYR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.24 and traded as high as $14.68. Magyar Bancorp shares last traded at $14.65, with a volume of 4,989 shares changing hands.

Magyar Bancorp Stock Performance

The stock’s fifty day simple moving average is $14.42 and its two-hundred day simple moving average is $13.24. The company has a market capitalization of $94.93 million, a price-to-earnings ratio of 11.18 and a beta of 0.30.

Magyar Bancorp (NASDAQ:MGYR) last released 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 7.53%.

Magyar Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s dividend payout ratio is 18.32%.

Hedge Funds Weigh In On Magyar Bancorp

A number of hedge funds have recently modified their holdings of MGYR. Private Advisor Group LLC purchased a new stake in shares of Magyar Bancorp during the third quarter valued at $136,000. Renaissance Technologies LLC raised its holdings 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 buying an additional 2,300 shares during the period. Northern Trust Corp raised its holdings in Magyar Bancorp by 37.2% during the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after buying an additional 7,501 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Magyar Bancorp by 6.3% in the third quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock worth $713,000 after buying an additional 3,437 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Magyar Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock worth $1,930,000 after buying 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.