Magyar Bancorp (NASDAQ:MGYR) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.82 and traded as high as $13.97. Magyar Bancorp shares last traded at $13.81, with a volume of 508 shares traded.

Magyar Bancorp Price Performance

The stock’s 50 day simple moving average is $14.22 and its two-hundred day simple moving average is $13.83. The stock has a market capitalization of $89.46 million, a PE ratio of 10.54 and a beta of 0.08.

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

Magyar Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.06 dividend. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Thursday, February 6th. Magyar Bancorp’s payout ratio is currently 18.32%.

Hedge Funds Weigh In On Magyar Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGYR. Northern Trust Corp lifted its stake in shares of Magyar Bancorp by 37.2% during the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after buying an additional 7,501 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Magyar Bancorp by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock worth $1,930,000 after acquiring an additional 974 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Magyar Bancorp by 16.1% in the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after acquiring an additional 2,300 shares during the period. PL Capital Advisors LLC grew its position in shares of Magyar Bancorp by 1,360.0% in the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after purchasing an additional 3,461,975 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Magyar Bancorp by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after purchasing an additional 3,437 shares during the period. Institutional investors own 46.32% of the company’s stock.

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.